Retail Detail (Ahold Delhaize USA CEO, Kroger readacross, UK consumer confidence)

Research evidence excerpt

Retail Detail (Ahold Delhaize USA CEO, Kroger readacross, UK consumer confidence)

particularly (FoodLion). Kroger

pointed to some progress on price gaps in 1Q but the message is slow and steady with no reset

and the need to make some foundational improvements before accelerating. It said there were

some positive signs on market share within convention grocery on the back of early price

changes and other store work. Shares were down -8.4% yesterday (vs AD -2.5%). Seth attributes

this to weaker consumer commentary. Kroger CEO Greg Foran said: "The customer is under

pressure. High gas prices and reduced SNAP benefits are squeezing budgets. Customers are

managing spend carefully and shopping with real intent. That pressure is showing up in the

market." Kroger said the food-at-home market decelerated sequentially by -1pt.

UK consumer confidence remains flat in June as underlying sentiment weakens. The GfK

consumer confidence index has remained unchanged at -23 in June, reported Drapers this

morning. Expectations for the general economic situation over the next 12 months has risen two

points to -36, but is still eight points below June 2025, while the major purchase index was also

flat at -20 but remains four points lower than June 2025. Neil Bellamy, consumer insights

director at GfK, said "the lack of movement in the headlines figure is misleading as, beneath the

surface, there are new signs that confidence is weakening". He added: "The biggest fall this

month is among those aged 16 to 29, traditionally one of the most optimistic groups. Here

confidence has dropped 11 points over the past month to –2, the lowest level seen for two

years, driven by large falls in views on both their own personal finances and the wider

economy".

UK retail jobs fall to record low.