Kroger, the largest supermarket chain in the United States, is set to implement substantial price cuts on thousands of everyday items to compete more effectively with rivals such as Walmart and Costco. CEO Greg Foran, who took the helm in February, highlighted the necessity for lower prices as consumers face inflation and rising living costs. The company plans to test these price reductions before rolling them out nationwide, with a focus on internal cost savings through direct imports and operational efficiencies. Kroger's strategy mirrors that of Walmart, which has successfully cut prices on a significant number of items. Additionally, Kroger plans to open 70 to 80 new stores in 2024, targeting growth in regions like Texas and Florida while enhancing its e-commerce and delivery services. Foran aims to reposition Kroger as both affordable and customer-friendly, leveraging his previous experience at Walmart to revitalize the brand. The initiative comes after a challenging period for Kroger, including a failed merger with Albertsons and a leadership change, as the company strives to reassure investors and adapt to evolving consumer behaviors.