You know you are rich when you forget to note $2.6 billion -- that's
billion with a "b" --
from The Street --
Shares of Kroger Co. resumed trading on Wednesday, Oct. 11, after
accidentally omitting $2.6 billion in revenue for its convenience store
business.
At its investor day Wednesday, Kroger announced that it had
retained Goldman, Sachs & Co. to explore strategic alternatives,
including a possible sale, for its convenience store business.
The press
release stated that the business generated 2016 revenue of $1.4
billion. A few hours later, however, Kroger clarified that the
convenience store business actually generates sales nearly triple that
number.
So, if you were the VP for convenience store sales and were responsible for $3 billion in revenue and your company CEO forgot all about your division when submitting the quarterly report -- any Freudian thoughts about whether your boss likes you or not?
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