Kroger Co., a national supermarket chain, reported the following data (in millions) in its financial statements for a recent year:
Total revenue ...................................... $108,465
Total assets at end of year .......................... 30,556
Total assets at beginning of year .................. 29,281
a. Compute the asset turnover. Round to two decimal places.
b. Tiffany & Co. is a large North American retailer of jewelry with an asset turnover of 0.86. Why would Tiffany's asset turnover be lower than that of Kroger?