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).
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.
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.
Published: June 10, 2019