Earlier quoted context omitted.
They are not serving the same customers. HEB operates in a state that has exploded economically for quite a few decades, and where people have large, growing families that cook a lot. TJs and Costco also have similar fan bases, but they restrict their stores to the richer side of town. Kroger and Albertsons, however, have operations in many stagnant or declining areas, saddled with union contracts from a long time ag…
Both Kroger and Albertsons also operate in Texas, in the same cities, often a short distance away from HEB.
There’s an HEB here every couple miles. I haven’t seen a single Kroger or Albertsons, it’s not the same at all.