June 6, 2022 Kroger As one of the biggest corporate price gouging villains, Kroger increased grocery prices by 3.5 percent in 2021. Meanwhile, the grocery store made $1.7 billion in profits and paid its CEO $18 million that year.
June 6, 2022 Procter & Gamble P&G, which accounted for 44% of market share in the U.S. diaper market as of 2017, increased pricing on its baby care products in February 2022 to protect its profit margins.
June 3, 2022 Exxon For the first three months of the year, Exxon reported that its profits doubled to $5.48 billion, compared to the same quarter last year.
June 3, 2022 Tyson Foods Over the last year, as meat prices have driven grocery inflation higher, meatpacker Tyson Foods has raked in massive profits.
June 3, 2022 Kellogg’s Earlier this year, Kellogg’s announced that it would raise prices to help blunt higher costs due to inflation, while over 1,400 cereal plant employees went on strike due to low wages and long hours.
June 3, 2022 Marathon As gasoline prices increased 49.6% in 2021, Marathon Petroleum was one of the three biggest US oil companies that collectively saw previously negative profits jump nearly $87.5 billion and boosted shareholder handouts by over $4.5 billion in FY 2021.
June 3, 2022 Chevron In 2021, Chevron reported their highest earnings since 2014 with $15 billion in earnings. Chevron’s CEO also said that 2021 was the “most successful year ever.”
June 3, 2022 Land O’Lakes Land O’Lakes is one of the many companies accused of profiting off of the pandemic and blaming it on inflation. In a recent article, the company is shown to have a 48.1 percent net income margin increase from 2019-to 2021.
June 3, 2022 Eli Lilly With a recent investigation launched by the Michigan Attorney General, the Indiana based pharmaceutical company has been under fire for increasing insulin prices. Eli Lilly is only one of three companies that control nearly 100 percent of the world's insulin.
June 3, 2022 General Mills Back in March, cereal company General Mills mentioned that it saw a quarterly net increase of 11% to $660 million and spent $934 million on dividends this fiscal year after price hikes of up to 20% on hundreds of items in January.
June 2, 2022 People Increasingly Blame Corporations for High Prices It’s becoming increasingly clear to the American people that corporate America is responsible for many of the price increases squeezing workers and families. According to new polling from Navigator Research, more than four out of five people (81%) believe corporate greed is a cause of inflation — up from 73% in January 2022.
June 1, 2022 Shell With gas prices at an all time high, Big Oil companies like Shell had a 49 percent increase in revenue. Along with other gas companies, Shell made $174 billion in revenue last year.