Kroger's CEO reveals Americans are spending - Business Insider: ""We are pleased to see the economy moving in the right direction," McMullen told investors on a recent conference call.
McMullen said that many consumers are splurging on more expensive items like Murray's Cheese, Starbucks coffee, and Boar's Head deli meats.
He also said there's more demand for organic products in stores. This is good news for the economy because organic foods are generally more expensive.
Kroger, which has more than 2,000 locations, is expected to overtake Whole Foods as the nation's top seller of organic food.
McMullen speculates that lower gas prices mean Americans are spending a bit more on groceries.
Restaurant sales have also been spiking."
'via Blog this'