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They eliminated cashiers and keep the profits. NY Democrats are fighting back. (europe.pub)
submitted 2 months ago by to c/workreform@lemmy.world
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[–] 8 points 2 months ago* (11 children)

That's the only way it could work.
Grocery stores average margins of ~3%. They can't do universal 10% discounts.

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  • [–] 30 points 2 months ago (8 children)

    The CEO of Kroger made $15.63 million in 2024. Pretty sure there are lots of ways they could make it work. They choose not to.

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  • [–] 21 points 2 months ago* (last edited 2 months ago) (6 children)

    That's not how math works.

    2024
    Revenue was $147B
    Profit was $3.8B or 2.8%

    The lowest estimate I found of sales volume through self checkout is 38%.
    So a 10% self checkout discount is 3.8% hit to revenue. When profits are only 2.8% they'll take a 1% loss.

    The CEO pay being only 0.4% of that $3.8B profit. Isn't remotely enough to matter.

    This won't lower prices.

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  • [–] 11 points 2 months ago (5 children)

    Do you think the CEO compensation is the only place they are siphoning off funds to the oligarchs? And even with all the greed, they are still admitting to robbing $3.8B from the working class. That's all profits are.

    The system rewards greed and corruption. So that's what they do. They conspire with other corporations to inflate prices. They take advantage of disasters to gouge consumers. These aren't conspiracies, they are things that have been admitted to under oath and discovered through investigation.

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  • [–] 7 points 2 months ago (3 children)

    The numbers are public. You can do the math and convince us.

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  • [–] 2 points 2 months ago (2 children)

    say you’ve never worked in accounting without saying it

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  • [–] 3 points 2 months ago* (last edited 2 months ago)

    We're looking a 2 different things here. I'm doing the math on a specific policy and how it would effect a specific company. You come back with generalizations and broad conceptions.

    You are right generally. We agree generally. But here specifically, this policy won't do anything to help that. It's bad policy-making. We're both right.

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  • [–] 5 points 2 months ago

    That's an abysmally small number compared to the amount of product they move.

    Yes, sure, CEO's should make less. But that amounts to fractions of a percent on the typical purchase, not 10%.

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  • [–] 4 points 2 months ago (1 child)

    Sure they can. They hike prices 11.11% and the 10% discount brings them right back to their original price. Their 3% margin stays a 3% margin. They can even post the "discounted" price on the shelves to make it seem like customers are getting a good deal.

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