Posted on 02/15/2024 9:03:36 AM PST by Eccl 10:2
Lael Brainard: 'People are fed up with high prices,' especially for 'things that they buy on a weekly basis, groceries in particular'
A top Biden economic adviser on Thursday pressed on with the administration's recent effort to go after grocery stores and food companies over elevated prices, as inflation remains a major worry for voters as November's presidential election nears.
"Grocery prices, they are important to people because they pay those prices every week," said Lael Brainard, director of President Joe Biden's National Economic Council, during a news conference at a National Association for Business Economics event in Washington, D.C.
"We've seen in consumer brands, that in a lot of cases, they are effectively raising unit prices, but masking it by shrinking packaging, and it's important to call that out and to use the tools we have to go after that. And, you know, I think for the grocery stores and chains that raised their margins during the height of the pandemic, it's time to bring those down."
(Excerpt) Read more at morningstar.com ...
Grocery store profit margins are 1% to 3% -
https://smallbusiness.chron.com/profit-margin-supermarket-22467.html
“Every dollar of profit is a dollar taken from a worker’s pocket”, said no mentally balanced economist ever.
he should lead by example and cut the 10% for the big guy
c’mon man!
Democrat admins target American industries for political gain.
They only add to the misery.
They will call for new federal regulations on grocery stores which will raise prices even more.
F J B.
...It's shows they care.
They feeeeeel our pain. And we loooove them for it.
totally agree...
we are living it more and more each day except for the mass apathy part. we are not to that part yet
So much for evil having a cunning intellect.
Americans Believe Grocery Store Profits are 14 Times ... Yahoo Finance https://finance.yahoo.com › news › americans-believe-... Feb 15, 2023 — CHICAGO, February 15, 2023--Americans believe that grocery retailers are earning a 35.2% net profit margin, 14 times higher than grocers' ...
What Is the Profit Margin for a Supermarket? Small Business - Chron.com https://smallbusiness.chron.com › profit-margin-super... Nov 14, 2018 — Grocery store profit margins typically range from 1 percent to 3 percent, depending on the items. Grocery stores make their money on volume.
What are the Average Grocery Store Profit Margins? Epos Now https://www.eposnow.com › resources › what-are-the-... May 25, 2022 — On average, grocery stores make about 2.2% profit on each product they sell which isn't a lot of profit,
Are big grocery chains profiting from inflation? CEOs say no CBC https://www.cbc.ca › grocery-price-analysis-1.6774669 Mar 11, 2023 — Major grocery chain CEOs say profit margins are as thin as ever, even as they're raking in record profits.
Demystifying the Supermarket Business Model Untaylored https://www.untaylored.com › Blog Nov 14, 2023 — Another critical aspect is pricing. Supermarkets operate on a low-margin, high-volume model. They keep prices competitive to attract customers
Out of curiosity what do you suppose the profit margin is for politicians?
That makes more sense. I have always heard that grocery stores operate at a 1-2% profit margin.
Boy, is that ever spot on.
I have read it probably 5-10 times in my life, and I always read the first few pages of John Galt's statement then skip the rest. I read it all the way through the first few times, then skipped it thereafter.
All of it is ingrained in me. I don't need to read it. It would be like reading "I like sunny days. Sporty cars. Tasty food. Beautiful women..." etc.
Commies don’t know how money is made. They assume it is the result of greed.
So what is he going to do? Nationalize the grocery chains?
You’re comparing Kroger’s gross profit margin (sales minus inventory expenses) versus the other companies’ net profit margins. Once you add in the cost of running the stores and paying the employees Kroger’s drops to around 2% for the net. Microsoft’s gross profit margin was almost 70%.
Liberals love jobs. They just hate business.
“Liberals love jobs.”
For other people. “Jobs” = “work”, and they’re not doin’ it.
Milk is typically sold at or below cost as a LOSS LEADER.
Hence, this is why they always put it in the back corner of the store. So, that you hopefully buy something else that they make money on.
FYI, I bought chicken leg quarters on sale this week at Market Basket in NH for $.79/pound. This is equivalent to pre covid pricing.
I have done accounting for over 66 years.
I worked in the offices of 4 different grocery chains-—Madison, Wis KROGER
Milwaukee, Wis IGA
Los Angeles, Cal Hughes & Thriftimart
I have never heard of their profit being over 1.5%
I worked in Kroger Divisional offices in past years.
NEVER have heard of ANY such profit margins.
22% NOT happening.
MAYBE 2.2%
DEMOCRATS ONLY KNOW HOW TO LIE.
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