Kroger: California strike cut into first-quarter earnings
One of the nation's largest retail grocers says a California strike earlier this year was costly. Kroger Company said today it lost more than 71 million dollars because of the four and one-half month strike against its Ralphs store chain and two other supermarket operators. Cincinnati-based Kroger said its first-quarter earnings totaled nearly 263 million dollars, or 35 cents per share, for the quarter ended May 22nd. That was down from 351 million, 500-thopusand dollars and 46 cents per share a year ago.