Market Overview

Kroger To Introduce CBD Products In 17 States

Kroger To Introduce CBD Products In 17 States

Kroger Co (NYSE: KR) is the latest company to introduce CBD products to its U.S. store shelves.

The grocery chain's corporate affairs manager for its Michigan division, Rachel Hurst, said the company will begin the rollout this week in 17 states, according to The Detroit News.

Why It Matters

Kroger's decision to sell CBD lotions, oils and other products makes it the latest major American chain to get involved with the products.

Others to recently enter the market include convenience store chain Sheetz, which announced in May 2019 that it would begin selling CBD at over 140 locations in the U.S. Others new CBD retailers include Walgreens Boots Alliance Inc (NASDAQ: WBA) and CVS Health Corp (NYSE: CVS).

Retail giants like Walmart Inc (NYSE: WMT) and Target Corporation (NYSE: TGT) have also reportedly explored the possibility of CBD sales in recent months. 

Small, struggling industries may benefit from CBD sales as well: one video rental store in Michigan reported a sales boost after it began offering CBD products.

What’s Next

The Food and Drug Administration held a hearing in May 2019 to hear from the CBD industry about the cannabinoid and its possible inclusion in edibles. No determination has been made at this time.

Kroger shares were trading higher by 1.42 percent at $24.27 at the time of publication Monday. 

Related Links:

Walgreens Joins CVS, Will Start Selling CBD Products In Select Stores

Shoe Retailer DSW To Sell Green Growth Brands' CBD Products

Photo by Virginia Retail via Wikimedia

Posted-In: CBD Livingston Daily retail The Detroit NewsCannabis News Markets Media Best of Benzinga


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