Why, in 2024, would anyone attack grocery stores for price gouging and therefore the high food prices consumers pay every day? There are exactly zero facts to support the claim that the incredible inflation at the consumer level is the result of actions by grocery stores. Grocery stores make very little money on each item sold and profit because of the volume of individual purchases by large numbers of consumers. In a purchase of $100.00 of groceries, the grocery chain’s profit was likely between $1.60 and $2.00 in 2023. Take away those margins and we would have many fewer grocery chains.
Generally, if a company or an industry is being attacked for price gouging, companies in the space would have wildly increasing profits, wildly increasing stock prices and be sending their ill-begotten profits to shareholders as dividends. These gouging companies would be increasing operating margins and increasing profits to the detriment of their customers.
Listening to the rhetoric regarding price gouging from grocery chains, Albertsons and Kroger would logically be poster children for this attack. Except, reality should have some........