Ralphs Issues Statement Following Approved Court Settlement on Pricing and Labeling
In response to the settlement approved today by the Los Angeles Superior Court, Ralphs Grocery Company (NYSE: KR) issued the following statement:
"After an almost 3-year-old investigation regarding allegations occurring in 2009 it found what we already knew. Ralphs is industry-leading and will continue to be when it comes to providing our customers accurate pricing and precise labeling. We take these matters very seriously and any inadvertent discrepancies were corrected immediately for our customers. We have decided to put this behind us, and we are pleased the investigation is finally complete. We look forward to continuing to serve our customers throughout Southern California.
"As a judge noted back in 2010, even at that time, Ralphs had 99% accuracy on labeling and weighing its goods as well as an impressive Weights and Measures and Price Integrity program in all our stores. Clearly, there is nothing misleading nor unfair to Ralphs' pricing. Ralphs has continued to improve in this area."
The investigation occurred in the spring of 2010. Since then, Ralphs has improved its already industry-leading Weights and Measures program, implementing steps such as automatically defaulting to the largest container weight when measuring to-go