Kroger capitalizes on economic stimulus checks
Kroger Co. is stimulating the US economy by offering customers an incentive to exchange their economic stimulus checks from the Internal Revenue Service for a Kroger gift card. Starting in May 2008, the US Treasury will begin sending economic stimulus payments (up to US$600 per person) to those eligible.
Customers with a US$300 check will get a gift card for US$330, two US$330 gift cards for US$600; and four US$330 gift cards for US$1,200. To receive a payment, taxpayers must have a valid Social Security number, US$3,000 of income and file a 2007 federal tax return. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.
"Grocery bills represent a significant expenditure for the average American family," said David Dillon, chairman and CEO. "In fact, the average family of four spends between $105 and $235 per week on food purchased at a store and prepared at home. Kroger's program allows our customers to stretch their grocery dollars further."
Customers can exchange their checks for gift cards in the customer service center of any of the chain's stores between May 2 and July 31, Kroger said. A Kroger "customer loyalty card" is also required. The program is limited to one per household, with a limit of US$1,200. Kroger cards can also be used for gas at Kroger Fuel Centers.
US-based Kroger operates more than 2,400 supermarkets and multi-department stores in 31 states.
