Grocers Bag New Labor Deal in California: KR, SWY, SVU

Grocers Kroger (NYSE:KR), Safeway (NYSE:SWY), and SuperValue (NYSE:SVU) reached an agreement with Southern California workers. This agreement prevented what could have been a very expensive strike by these workers. According to the union rep, the 3-year contract includes a wage increase, along with health and pension benefits.

“We are pleased to have reached a tentative settlement agreement with the union that continues to preserve good wages, secure pensions and access to quality, affordable health care – while allowing us to be competitive in the marketplace,” the grocers said in a joint statement on Monday.

Kroger’s stock (NYSE:KR) is up .58% to $22.51 on the news. Shares are up 0.72% year to date. The stock has traded in a 52-week range between $20.53 and $25.58. Safeway’s stock (NYSE:SWY) is up 0.03% to $17.53 on the news. Shares are down 22.01% year to date. The stock has traded in a 52-week range between $16.51 and $25.43. SuperValue’s stock (NYSE:SVU) is up 1.89% to $7.56 on the news. Shares are down 21.5% year to date. The stock has traded in a 52-week range between $6.40 and $12.45.

Other actively traded super market stocks to watch include: Whole Foods Market, Inc. (NASDAQ:WFM) 3.54%, Winn-Dixie Stores, Inc. (NASDAQ:WINN) 3.49%, and The Fresh Market (NASDAQ:TFM).

Don’t Miss: Kroger Co. Earnings Cheat Sheet: Fifth Straight Quarter of Shrinking Margins as Profit Rises.

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