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Kroger closes stores, purchased $1 billion in stock-buybacks during pandemic, while United Food and Commercial Workers kept workers on the job


Kroger closes stores, while United Food and Commercial Workers kept workers on the job during pandemic
Over the course of the past year, while more than 35 million Americans have contracted coronavirus and 625,000 have died, corporate share values have risen to their highest levels in history. One company which has done particularly well is grocery chain Kroger. According to its website, its total sales were $132.5 billion in 2020, up from $122.3 billion in 2019. Excluding fuel and dispositions, total sales grew 14.2 percent.
This money has not been funneled into higher wages or better safety precautions for Kroger workers but has been funneled back into the pockets of Kroger’s shareholders. Last year, Kroger returned $1.9 billion to shareholders, repurchased $1.32 billion of shares in 2020 under its board authorizations, and increased the dividend by 13 percent, from $0.64 to $0.72 per year. 2020 was the fourteenth consecutive year of dividend increases, resulting in a ....

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