This story was first published by Digiday sibling Modern Retail
Retail media is becoming increasingly critical to one of the nation’s largest grocery chains.
Profit for the Kroger Precision Marketing advertising business grew 24% in the second quarter, according to Kroger’s latest financial earnings release. This marks the company’s best retail media profit growth since 2021, CEO Greg Foran told investors on a conference call Friday morning. Media monetization grew 88 basis points over the past year, Foran said. Meanwhile, e-commerce sales grew 20%, marking the second consecutive quarter of profitable e-commerce growth, the company said.
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