Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
Kroger is set to close about 5% of its grocery stores — amounting to approximately 60 locations — over the next year and a half.
The closings occur several months following the collapse of plans for a merger with competitor Albertsons, which was intended to form an enormous retail entity. This led to both firms getting entangled in a legal dispute.
In an earnings statement released on Friday, Kroger announced a $100 million write-down due to store closings; however, these closures are expected to yield a "slight long-term advantage." The company has not specified which particular locations will be closed nor has it responded promptly to requests for further clarification.
Kroger stated that impacted workers will be provided with opportunities at neighboring outlets, and the funds conserved will be utilized for enhancing "customer experience" at the surviving locations. The company operates approximately 1,200 stores across 16 states in the U.S.
The grocery store mentioned they are gaining advantages as people reduce their expenditure on eating out, which led them to raise their annual sales prediction. During an earnings call, interim CEO Ron Sargent stated that their clientele is opting "to have more of their meals at home."
Kroger experienced an increase in sales due to reductions in prices on 2,000 items and increased promotion of their own brand products, which tend to be more affordable compared to well-known brands. According to Sargent, sales from these exclusive lines have been rising at a quicker pace than those of major brands for seven successive quarters. Looking ahead, Kroger plans to introduce 80 new high-protein goods over the next few months to meet the escalating consumer demand for this particular nutrient.
Regarding the closures, Sargent stated, "Not all of our stores are achieving the sustainable outcomes required" and mentioned that the company did not reassess its outlets during the merger phase, unlike their usual annual practice.
In March, Sargent was appointed as the interim CEO following the sudden departure of Rodney McMullen, who resigned from his role at Kroger amid an inquiry into his private behavior.
Kroger stocks finished approximately 10% higher on Friday.
READ MORE: Kroger plans to close approximately 60 stores over the coming one-and-a-half years.
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