Kroger profit dips as costs rise

New York • The Kroger Co., the parent of Utah-based Smith’s Food & Drug stores, said Friday that its profit dipped slightly in the second quarter, as the nation’s largest traditional grocer faced higher expenses and an increased tax rate. The Cincinnati-based company said a key sales figure rose during the period as its loyalty program helped attract shoppers. But merchandise costs — which includes advertising, warehouse and transportation expenses — also rose 4.3 percent. Like other supermarket...