Goldman downgrades Kroger and Albertsons, says inflation will hit grocers’ margins

SourceCNBC
SectorEconomy
CountryMiddle east

A woman pushes a cart of groceries to her car outside an Albertson’s store in Denver, Colorado.

The return of restaurants and rising food prices should put pressure on grocery store stocks in the months ahead, Goldman Sachs said in a note to clients on Tuesday.

Analyst Kate McShane downgraded Kroger to sell from neutral and Albertsons to neutral from buy, saying that the companies were likely to be pinched by weakening demand and higher costs.

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