A former top rival of grocery giant Kroger has been named the company’s next chief executive officer.

Greg Foran — former CEO of Walmart’s U.S. division — will now lead Kroger following an “extensive” year-long search for “an innovative retail leader with a strong track record,” the company announced Monday.

Kroger is America’s biggest grocer by sales, behind only Walmart, and has been looking for a new leader since March 2025 when former CEO Rodney McMullen was ousted over an undisclosed ethics violation.

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“Kroger is one of the most dynamic companies in retail,” Foran said in a press release. “The company is built on a strong foundation, supported by a talented leadership team, and caring associates who are dedicated to the customers and communities they serve.”

A shopper pushes a cart inside a Kroger supermarket in Peoria, Illinois. (Getty Images)

“At this moment in Kroger’s journey, I can honestly say this is the best job on the planet,” he continued. “I look forward to working with the Board and the entire team to build on this momentum, continue raising the bar for customers, and deliver long-term value for customers, associates, and shareholders.”

“Greg is a highly respected operator who knows how to run large-scale retail businesses, strengthen store execution, and lead high-performing teams,” Kroger Interim CEO Ron Sargent also said.

“His leadership style, focus on the customer, commitment to associates, and disciplined approach to execution are the perfect fit for Kroger,” Sargent added. “The Board is confident Greg is the right leader to guide Kroger into its next chapter.”

Foran worked for Walmart between 2014 and 2019 and is credited with managing and turning around more than 4,600 stores while introducing digital ordering and pickup. Walmart also recorded 20 consecutive quarters of comparable sales growth under his leadership.

After he left Walmart, the 64-year-old New Zealand native served as CEO of Air New Zealand, a role he held until October.

In reaction to the news, Kroger shares were up about 5% shortly after the opening bell.

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After McMullen’s removal and prior to Foran’s arrival, Kroger worked to cut costs across operations, eliminating about 1,000 jobs and closing dozens of stores in recent months. Sargent previously said the reviewed areas were not meaningful to the company’s future growth and determined that closing the stores “will make the company more efficient.”

Kroger’s total company sales were $33.9 billion in the third quarter of 2025, up from $33.6 billion during the same period last year. The company attributed the performance to strength in fresh food and e-commerce, helping sales hold steady.

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We are now in a time of manufacturing where precision is more than a technical necessity; it’s a business requirement. The more complex, globally dispersed and demanding things get, the less slack remains in the system.

Under these circumstances tolerance management has become a decisive competence and affects competitiveness not only in terms of controlling costs, ensuring quality and improving production efficiency but also for long term market success.

What once was a niche engineering problem tolerance management has moved to straddle the design, operations and corporate boardroom. As manufacturers wrestle with digital transformation and Industry 4.0, getting to grips with tolerance strategies is a must if you’re going to build better and more importantly stronger products, not just in terms of quality but also as businesses that are disaster-proof.

The Unseen Price of Bad Weight Decisions

Tolerance choices have implications in almost every single step of the manufacturing cycle, and yet their cost implications are grossly overlooked. Too stringent of tolerances can escalate machining costs, drag production down, and soar scrap rates. A high level of scatter, on the other extreme can create assembly rejects, warranty build-ups and discontent customers.

These costs are rarely isolated. One tolerance problem can reverberate through suppliers, production lines and logistics networks, snowballing its effects. For high-volume industry and regulated industries, the effects could be recalls, compliance breaches or reputation damage.

There’s a business benefit to Tolerance Management being not a channel for the pursuit of perfection. It’s sort of striking the trade-off between precision and practicality for realizing predictable results at scale.

Why Tolerance Management Is Not Only an Engineering Problem Anymore

In the past, tolerances were pretty much in the hands of design engineers. Technical skills are necessary but not sufficient in today’s manufacturing, which requires a more expansive responsibility. Modern products are created through interdependent design, procurement, quality and production teams that frequently work across multiple companies and in exchange across geographies.

Executives need to appreciate how tolerance choices influence cost structures, supplier relationships and time-to-market. Organizations fail to capitalise on performance and profitability if tolerances are viewed as uncoupled technical parameters rather than strategic variables.

As the production becomes data centric, tolerance management is increasingly affecting executive level KPIs such as yield, uptime and ROI.

The influence of tolerance management on supply chain stability

Longer, global supply chains have made manufacturing more complex. Parts from various suppliers have to work well together, run on different production capacities and quality standards simultaneously.

Good tolerance management helps manufacturers to predict and control variation between suppliers. It allows for better-defined requirements, more realistic supplier expectations and less surprises during assembly. Poorly defined or misunderstood tolerances needlessly add friction to the supply chain, resulting in delays, rework, and damaged joints.

Those that do manage tolerances proactively have stronger supplier ecosystems and more resilient production schedules.

Quality, Compliance, and Customer Trust

In automotive, aerospace, medical devices and electronics the decisions about tolerances have a direct impact on compliance and safety. Regulatory requirements sometimes specify the need for manufacturers to show control of both variation and repeatability.

Requirements Tolerance management supports characterization of these requirements as it helps in more accurate risk assessment and validation activities. It also improves traceability to be able to prove due diligence during audits or investigations.

Quality is key for customers Customers and quality also go hand in hand. Reliability of a product over time positively supports the brand and lowers lifecycle cost. Tolerance management is one of those unsung principles that helps maintain that consistency.

Digital Manufacturing and The Call for Intelligent Tolerance Approaches

The advent of digital manufacturing tools has disrupted the way products are designed and made. Advanced simulation, model-based definition and digital twins enable manufacturers to predict performance before the physical production even starts.

Tolerance analysis is an integral part of such digital ecosystem. When introduced into the design process early, it lets teams analyze trade-offs, assess risk areas and determine options before costs are committed.

Companies investing in tolerance knowledge have a competitive advantage through less late stage design change and faster product to market.

Building Organizational Capability Through Training

It’s ironic, but tolerance management is the most neglected skill in organizations despite its criticality. Engineers are forced to turn to rule of thumb estimates, and management doesn’t have clear insight on how tolerance decisions translate into business outcomes.

Structured education can help to helm this deficit. Tolerance theory integrated with application in the shop floor marries academia and manufacturing best practice, where teams can make informed decisions involving cross-functional considerations. Aside from the big picture, in a training targeted at business goals and technical precision like Sigmetrix, specific learning experiences are supported.

Manufacturers who invest in training related to tolerance are reinforcing cross-functional teamwork and will become less dependent on individual experts.

Tolerance Management and Cost Optimization

Cost Saving This is one of the areas where tangible benefits for a Successful tolerance management are witnessed. By matching tolerances to functional needs instead of random values, manufacturers can minimize over-machining, inspection and reworking.

This is an overall but not a one part optimization. More predictable assembly processes, lower inventory buffers and improved throughput result. These savings compound over time, leading to better margins and more scalable operations.

By doing so, tolerance management turns into a lever for continuous improvement in the eyes of companies rather than be perceived as something static.

The Role of Leadership on the way to Tolerance Excellence

Leaders who realise the strategic potential of tolerance management foster to its success in their organisations. When leaders focus on controlling variation, and facilitate data-informed decision making, teams can address causes of problems rather than just the symptoms.

Leadership participation also guarantees that considerations to tolerance are developed in conjunction with other enterprise wide initiatives like lean manufacturing, 6 Sigma and digital transformation. The alignment ensures that silos don’t develop and fosters a culture of quality and accountability.

In today’s manufacturing, tolerance management is not a “one and done” practice but rather an enduring regiment that grows with products and processes.

Preparing for the Future of Factory Work

Tolerance struggles are only going to get worse as more and more customization, automation, material alike continues to flood the market. Manufacturers that don’t have close control over their tolerances risk getting left in the dust by more nimble rivals.

Organizations that are future looking see tolerance management as a core capability that enables innovation and yet maintain reliability. They spend on tools, training and teamwork to be proactive about complexity.

Where precision must co-habit with speed, tolerance management is the platform for growth.

Conclusion: From Technical Detail to Competitive Advantage

“Tolerance management is the fastest growing skill in manufacturing.” Once viewed as a technical detail, it is now strategically positioned to impact cost-efficiency, quality of service, compliance and customer satisfaction.

Manufacturers who move tolerance management out of the drawing room and onto the boardroom table are in a position to achieve precision, power and peace of mind. By coordinating technical accuracy and business objectives they turn variation from a danger into an opportunity.

In a tough, dynamic world of manufacturing, competence in tolerance has become anything, but an option. It is a business-critical even puts resilient manufacturers ahead of the game.

Its credit cost for the quarter was seen at 3.3%, well below the guidance of 4-6% for the fiscal. Provisions in absolute terms were at Rs 106 crore as against Rs 164 crore in the year ago quarter, in line with a fall in gross non-performing assets ratio to 4.4% at the end of December from 4.6% three months prior.

Pre-provisioning operating profit however stood lower at Rs 175 crore as compared with Rs 252 crore.

The lender’s net interest margin for the quarter stood at 12%, up 11 basis points from the preceding quarter. Its gross loan portfolio grew 5.4% year-on-year to Rs 13,079 crore.

“The microfinance sector has emerged from a challenging phase with industry gradually returning to a sustainable growth path,” chairman Thomas Muthoot said.

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GIC Housing Finance reported Rs 44 crore net profit for the third quarter of the fiscal, reflecting a 12% drop from the year-ago period’s Rs 50 crore. The lender’s total expenses stood higher at Rs 218 crore against Rs 214 crore while total income was higher at Rs 273 crore against Rs 270 crore. Its gross non-performing assets ratio rose to 4.24% at the end of December 2025 from 3.47% a year prior. The lender’s net profit margin declined to 16% from 18.4% a year back.

President Donald Trump on Friday signed an executive order to expand beef imports from Argentina as consumers face higher prices amid supply constraints impacting the U.S. cattle industry.

Trump’s order implements a trade framework he reached with Argentina in November that aims to increase beef imports to help mitigate the surge in beef prices that has occurred in recent years.

In 2018-19, ground beef prices were under $4 per pound but began rising during the pandemic and have been above $5 a pound since June 2023 while continuing to increase, reaching about $6.69 a pound in December, according to data from the Bureau of Labor Statistics (BLS). Sirloin steaks were around $8.50 a pound in 2019, but have been over $11 a pound since the summer of 2023 and hit $14.02 a pound in December.

Over the last year, ground beef prices are up 15.5% through December while the cost of a steak has risen 17.8%, according to the BLS’ consumer price index (CPI). A fresh read of the CPI inflation is due at the end of this week when January’s data is set to be released – though high beef prices are expected to persist due to domestic supply challenges.

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The price of steaks and ground beef has risen sharply over the last year. (Justin Sullivan/Getty Images)

Cattle ranchers have reduced their herds due to drought and wildfire affecting key ranching regions in recent years, which left the nationwide cattle inventory at its lowest level in 70 years. Although some ranchers have started to slowly rebuild their herds, it takes at least two years to raise full-grown cattle.

Overhead costs for cattle ranchers have also climbed, with feed, labor, fuel and equipment expenses trending higher. 

Additionally, cattle imports from Mexico have been restricted due to the New World Screwworm, a parasitic infestation that can afflict livestock.

BEEF PRICES SOAR AS AMERICAN FAMILIES PAY STEEP PRICES FOR STEAKS AND BURGERS NATIONWIDE

American consumers have faced a significant rise in beef prices over the past few years. (Ronald Schemidt/AFP via Getty Images / Getty Images)

Under the Trump administration’s announcement, the tariff-rate quota for imports of lean beef trimmings from Argentina will increase by 80,000 metric tons for calendar year 2026. 

The additional imports will be allocated entirely to Argentina and released in four quarterly tranches beginning on Feb. 13.

The White House said in a fact sheet that the action is intended to boost supply and make ground beef more affordable for American consumers, citing an 8.6% decline in domestic beef cattle inventory since 2020.

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The U.S. beef cattle inventory is at the lowest level in 70 years. (Agustin Marcarian/Reuters)

The announcement drew pushback from the nation’s largest cattle industry group, which questioned whether increased imports would deliver the price relief the administration is promising.

“While we fundamentally disagree with the premise that increased imports can lower beef prices, NCBA is encouraged to see the Trump administration take necessary steps to address longstanding market-access challenges for U.S. beef in Argentina,” said Kent Bacus, executive director of international trade and market access at the National Cattlemen’s Beef Association (NCBA).

Bacus warned that Argentina’s history with foreign animal diseases raises concerns about expanding imports without stronger safeguards.

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“Given Argentina’s issues with foreign animal diseases, NCBA remains concerned that expanding imports from Argentina without increased inspection protocols and up-to-date audits could place American consumers and our cattle herd at unnecessary risk,” Bacus said.

FOX Business’ Jasmine Baehr contributed to this report.

The Teesside company saw a big rise in profitability

One of the North East’s largest companies has reported a rise in both profits and turnover in what it describes as a “year of exceptional trading”. Middlesbrough-based Cleveland Cable Company has released accounts for the year to the end of April 2025 in which its turnover rose from £456.5m a year earlier to £486.7m.

Over the same period, operating profit went from £31.2m to £41.2m and retained earnings at the end of year stood at £184.6m, an increase of more than £30m over the year.

In the accounts, the company says it does not provide a geographical breakdown of its sales as that would be “prejudicial to the affairs of the company”. Cleveland Bridge’s headcount increased slightly during the year to stand at 598, with the increase coming in its operating and sales staff.

Despite the successful year, the company did not pay any dividend to shareholders, having had an £83.6m dividend 12 months earlier.

The success of Cleveland Cable, the largest cable supplier in the UK and Ireland, over nearly 50 years has made brothers Alastair and Michael Powell some of the North East’s most successful businessmen. The duo have an estimated wealth of £701m, according to the annual Sunday Times rich list, and also own The Keys restaurant in Yarm.

In the accounts Alastair Powell said: “The directors are pleased to report on yet another year of exceptional trading. Both sales and profits have continued to be buoyed by the strong demand from all our markets and continued inflationary pressures on market prices.

“We are delighted with our progress made with our major projects team, new facilities and overseas businesses. The balance sheet and liquidity of the company continues to be healthy due to strong trading performance.

Cleveland Cable Company was started in 1978 by the Powell brothers. Its Middlesbrough head office in Riverside Park covers a 12-acre site and has more than 160,000sq ft of warehousing.

The company has depots at Newcastle, Northampton, Warrington, Bristol, Glasgow, London and Birmingham. It has overseas sites in Ireland, Dubai, Saudi Arabia, Sweden, Germany, Italy, Portugal and Norway.

Among the projects the firm has worked on was an £8m scheme for the 2012 London Olympics and involved 940,000 metres of cable.

Elon Musk said Sunday that SpaceX is shifting its near-term priorities away from Mars and toward building what he described as a “self-growing city” on the moon, citing faster timelines and strategic urgency.

“For those unaware, SpaceX has already shifted focus to building a self-growing city on the Moon, as we can potentially achieve that in less than 10 years, whereas Mars would take 20+ years,” Musk wrote in a post on X.

“The mission of SpaceX remains the same: extend consciousness and life as we know it to the stars,” he added.

Musk said the moon offers a more practical testing ground because of its proximity to Earth.

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A crane, marked by the SpaceX logo, sits near the Starbase launch site in Cameron County, Texas, on February 6, 2026. (Reginald Mathalone/NurPhoto via Getty Images)

“It is only possible to travel to Mars when the planets align every 26 months (six month trip time), whereas we can launch to the Moon every 10 days (2 day trip time). This means we can iterate much faster to complete a Moon city than a Mars city,” Musk wrote.

He said SpaceX still plans to pursue its long-held goal of settling Mars but on a longer timeline.

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“That said, SpaceX will also strive to build a Mars city and begin doing so in about 5 to 7 years, but the overriding priority is securing the future of civilization and the Moon is faster,” Musk wrote.

The comments echo a recent Wall Street Journal report that said SpaceX has told investors it would prioritize lunar missions before attempting a Mars landing, targeting March 2027 for an uncrewed moon mission.

SpaceX’s next-generation Starship spacecraft atop its Super Heavy booster is launched on its ninth test at the company’s launch pad in Starbase, Texas, May 27, 2025. (REUTERS/Joe Skipper)

The shift marks a notable change from Musk’s long-standing public emphasis on Mars as SpaceX’s primary destination. As recently as last year, Musk said the company aimed to launch an uncrewed Mars mission by the end of 2026.

“No, we’re going straight to Mars. The Moon is a distraction,” Musk wrote in January last year in response to a post on X.

Musk has a long record of setting ambitious timelines for major projects – including electric vehicles and self-driving technology – that have often slipped beyond their original schedules.

The renewed focus on the moon comes as the United States faces growing competition from China to return humans to the lunar surface this decade. Humans have not visited the moon since NASA’s Apollo 17 mission in 1972.

Musk has a long record of setting ambitious timelines for major projects. (Brendan Smialowski/AFP via Getty Images)

The remarks also arrive amid major financial and strategic shifts at SpaceX. Less than a week ago, Musk announced that SpaceX had acquired artificial intelligence company xAI – which he also leads – in a deal valuing SpaceX at $1 trillion and xAI at $250 billion.

Supporters of the move say it could bolster SpaceX’s longer-term plans for space-based data centers, which Musk has argued could be more energy-efficient than Earth-based facilities as demand for AI computing power grows.

SpaceX is also preparing for a potential public offering later this year that could raise as much as $50 billion, potentially making it the largest IPO in history.

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On Monday, Musk said in response to a user on X that NASA will account for less than 5% of SpaceX’s revenue this year, despite the company’s central role in NASA’s Artemis moon program, which includes a roughly $4 billion contract to land astronauts on the lunar surface using Starship.

“The vast majority of SpaceX revenue is the commercial Starlink system,” Musk wrote.

Reuters contributed to this report.