Kroger CEO: Trump Presidency is Good for Business
Kroger CEO Rodney McMullen was a guest on CNBC on Friday and shared his optimism surrounding a Donald Trump presidency. Shares of Kroger have gained more than 6 percent over the past five days, which may indicate thus far that the Trump presidency could be good for the grocery chain. "What we're really excited about, and this would be for any administration, is getting the economy to continue growing," McMullen said. "Growth helps everyone, so that creates jobs for all Americans. And when people get back to work and continuing to move ahead in a career, obviously they have more money to spend at groceries stores and everywhere else."
Total Retail's Take: While not always the wisest move for company leaders to speak out about politics, what McMullen said really was pretty mild in nature. In fact, his message could have applied whether Hillary Clinton or Donald Trump won the election. He's choosing to take a positive outlook on the economy, which would benefit not only Kroger, but all retailers. McMullen added that most retailers can expect to see a boost in business now that the election is over, noting the hesitancy of consumers to make large purchases before the election.
Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.