Kroger names IRI as preferred market insights partner
CINCINNATI & CHICAGO — Kroger has reached a long-term agreement with IRI that will enable the firm to provide the nation's largest grocery chain with market measurment serices that further enhance its "Customer 1st" strategy.
Kroger announced Thursday that IRI will be Kroger’s preferred partner for market measurement services, which provide Kroger and its supplier partners a common view of their business performance compared to the rest of the market. The industry-leading IRI Liquid Data technology platform and extensive product movement and causal data – which includes weather, gas and macroeconomic factors – will help both Kroger and its suppliers collaborate more easily and make better decisions to benefit customers.
“In everything we do and every decision we make, we put our customers first. Our relationship with IRI is another step in this direction,” said Mike Donnelly, Kroger’s executive vice president of merchandising. “We believe IRI has the best tools and technology to allow both Kroger and our suppliers to access better market insights, helping us create even better experiences for every customer.”
IRI is a provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver market-leading growth.
“IRI and Kroger are at the forefront of the shifting landscape by providing better market measurement data and industry-leading technology to create highly personalized consumer marketing to drive growth,” said Andrew Appel, president and chief executive officer, IRI.
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Supervalu falls short in Q1
Supervalu Inc. on Wednesday lower-than-expected profit for the first quarter amid ongoing efforts to spin off its Save-A-Lot division.
The supermarket operator reported a profit a profit of $46 million for the quarter, down from $61 million, in the year-ago period. Adjusted for charges related to the potential separation of Save-A-Lot and other factors, earnings declined to $53 million from $65 million last year.
Supervalu’s net revenue fell 3.9% to $5.20 billion.
“It takes time to bring on new business, and our first-quarter results reflect the sales run rate we experienced coming out of last year’s fourth quarter,” said president and CEO Mark Gross, who took the reins of the company in January. “We’ve been replacing lost business, and I am confident in our ability to attract new customers and grow our business.”
Supervalu’s discount banner, Save-A-Lot reported a 1.7% rise in net sales to $1.42 billion. In June, Supervalu announced its intent to spin off Save-A-Lot as a separate company within the next two years.
“We’re making great progress in growing our business as evidenced by our recent business announcements regarding our agreement with Marsh Supermarkets and our agreement to acquire 22 Food Lion grocery stores,” added Gross. “We’re also seeing great success in growing our wholesale produce business, and I believe we’ll sell more produce to our wholesale customers this fiscal year than our wholesale business has sold before.”