Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Recent Price: ~$57.77 (June 25, 2026) Written in the first person by Warren and Charlie. We confine ourselves to the company's filings, the filings and remarks of its competitors, developments since the most recent 10-Q (the quarter ended May 23, 2026), and the current market quote. We borrow no one's portfolio and no one's opinion. Kroger is the second-largest grocer in the United States, a sprawling, well-run, low-margin distributor of food and fuel. It earns about a penny and a half of operating profit on every dollar of merchandise it sells, and rather less than that after a year in which it wrote off $2.5 billion of a failed automation bet. It is a survivor with real scale, a respectable private-label program, and one genuinely attractive adjacent business — retail-media advertising.
Recent filings analysed: 8-K (2026-07-01), 10-Q (2026-06-26), 8-K (2026-06-26), 8-K (2026-06-18).
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