Kroger , the company that owns 1,239 grocery stores in 16 states, plans to close 60 of its locations in the next 18 months. The announcement comes after the company’s first-quarter earnings showed a decline in sales. The grocery retailer announced that 5% of the closures will be in Cincinnati , but it did not reveal where the bulk of the closings will be located. Why is Kroger closing 60 stores across the U.S.? According to CBS News , Kroger’s first-quarter report showed that sales dropped to $45.1 billion. That’s a slight decrease from a year ago, when the company reported $45.3 billion in sales. “In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closing of approximately 60 stores over the next 18 months. As a result of these store closures, Kroger expects a modest financial benefit,” the company said in a statement after the latest report, per CBS News. According to the grocery chain, the savings will be used to improve customer...