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Posted on 17 June 2011 | 3,700 views

Kroger Stock Market Price After October 1929 Crash

Kroger was founded by Bernard Kroger in 1883 in Cincinnati, Ohio. Kroger pioneered the first supermarket surrounded on all four sides by parking lots in the 1930s.

In 1904, “Kroger” buys 14 Nagel meat markets and a packing house — meat and groceries are sold under one roof for the first time. When 1905 arrives, during the severe winter, Barney Kroger donates 300 loaves of bread a week to the poor.

Self-service is tried for the first time in 1916 and the food store as we know it today begins to take shape.

By October 27, 1929 Kroger was trading at $69.50 per share when the first wave of selling on “Black Monday”, October 28, 1929 brought the shares down ($9.75) to close at $59.75 per share on the day. By August 11, 1932, Kroger was trading at $16.00 and hit a 1932 low of $10.00 per share.

In 1928, B. H. Kroger sells his company stock and retires from active management and the State Avenue facility expands to add manufacturing.

By 1946, Kroger Grocery and Baking Company officially becomes The Kroger Co. and sales top $1 billion in 1952 — reaching $60 billion by 2005.

In 1983, The Kroger Company acquired Dillon Companies grocery chain in Kansas along with its subsidiaries, King Soopers, City Market, Fry’s, Baker’s, Gerbes, and the convenience store chain Kwik Shop. David Dillon, in the 4th generation under J.S. Dillon, the founder of Dillon Companies, is now the CEO of Kroger.

Resources:

The Pittsburgh Press – October 1929
The Pittsburgh Press – August 1932

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