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Kroger, the supermarket giant, issued a lowered profit outlook, citing "factors outside our control" like food inflation impacting consumer behavior. While identical-sales growth excluding fuel remains strong, the company expects shrinking margins due to increased promotional pricing. CEO Rodney McMullen highlighted Kroger's efforts to manage costs and emphasized the resilience of their business model during inflationary periods.

This cautious forecast reflects a broader trend in the grocery sector as consumers grapple with rising food prices and become more price-sensitive. Despite the challenges, Kroger remains confident in its long-term strategy, focusing on cost control and maintaining its competitive edge.