Written by Tom Ryan
The mantra for all the Willy Lomans of the world is to beat last year’s numbers, but the pandemic has distorted sales comparisons, making that tough. A few retailers on fourth-quarter investor calls are encouraging analysts to compare 2021’s figures to 2019’s for a more normalized perspective.
Kroger, for example, provided a wider range in issuing 2021 guidance due to the uncertainty surrounding food-at-home trends as COVID-19 vaccines rollout. Same-store sales in 2021 are expected to decline three percent to five percent against 2020, but expand nine to 11 percent on a two-year stack basis. Gary Millerchip, Kroger’s CFO, told analysts, “Evaluating our performance using a two-year period will more accurately measure our underlying momentum.”
Read more here