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The Kroger Co. (NYSE: KR) is a premier retail giant and one of the largest grocery retailers in the United States. With more than 2,425 supermarkets and multi-department stores spanning across 31 states, Kroger operates under a wide array of local banner names including Kroger, City Market, Dillon's, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs, and Smith's. Additionally, the company boasts 789 convenience stores, 337 fine jewelry stores, 1,109 supermarket fuel centers, and 38 food processing plants in the U.S.
Kroger is not just about grocery retailing. It offers a diversified portfolio of services and products, including 80+ “The Little Clinic” retail healthcare sites, pharmacies in 80% of its locations, and fuel stations at 60% of its stores. Kroger's private-label products contribute significantly to its revenue, with around 30% of units produced in-house in its 33 food production plants.
The company is recognized for its commitment to the community and social responsibility. It supports numerous initiatives such as hunger relief, breast cancer awareness, military family support, and more than 30,000 schools and grassroots organizations. Kroger contributes food and funds equal to 160 million meals annually through its partnerships with over 80 Feeding America food banks.
Financially, Kroger has maintained robust performance, evidenced by its 2023 fiscal year results. Total company sales reached $150.0 billion, including $2.7 billion from the 53rd week. The company also continues to innovate and expand, as seen in its recent launch of MCoBeauty in the U.S., exclusive to Kroger stores.
Kroger's strategy for growth includes leveraging its “Leading with Fresh” and “Accelerating with Digital” platforms. The company is continually investing in its seamless shopping experience, digital innovation, and associate welfare, aiming to create a sustainable growth model. Recent initiatives include the sale of its specialty pharmacy business to CarelonRx and the introduction of SDS for HD, a coastal living home décor collection in collaboration with Bravo Reality Personality Craig Conover.
Furthermore, Kroger's proposed merger with Albertsons aims to expand its market reach, bringing even more choices and lower prices to consumers while securing the long-term future of unionized grocery jobs. The merger is expected to enhance competition, increase local product offerings, and maintain job security for frontline associates.
To stay updated on Kroger’s latest financial performance, growth strategies, and community initiatives, visit Kroger’s newsroom and investor relations site.
The Kroger Co. (NYSE: KR) has announced a quarterly dividend of 32 cents per share, payable on December 1, 2024, to shareholders of record as of November 15, 2024. This decision was made by Kroger's Board of Directors on September 19, 2024. The company's quarterly dividend has shown impressive growth, with a 13.5% compounded annual growth rate since its reinstatement in 2006. Kroger expects to continue increasing dividends over time, subject to board approval.
Kroger's capital allocation strategy focuses on using free cash flow to invest in business growth, maintain its investment grade debt rating, and return capital to shareholders. The company aims to balance these goals effectively.
Kroger has announced its annual Hunger Action Month campaign for September 2024, directing all funds raised in Kroger Family of Stores to the Feeding America network of food banks. Customers can round up their purchases to the nearest dollar to help fight hunger. Since 2017, Kroger has provided over 3.4 billion meals and aims to donate 10 billion meals by 2030.
Kroger has donated $3 million to Feeding America this year and raised nearly $600,000 during last year's Hunger Action Month. The company is also supporting local initiatives across its divisions, including peanut butter drives and school supply programs. Kroger's Zero Hunger | Zero Waste Foundation has provided $1.5 billion for hunger relief since 2017, including nearly 700 million pounds of surplus fresh food donations.
Home Chef, a leading meal solutions company, has partnered with Dolly Parton and her sister Rachel Parton George for a -time meal kit collaboration. The partnership features recipes from the sisters' new cookbook, 'Good Lookin' Cookin''. The four-week collaboration offers meals inspired by their family recipes, available in various formats including Meal Kit, Express Plus, and Culinary Collection.
Customers can order the Good Lookin' Cookin' collection until October 18. Menu highlights include Fried Chicken and Gravy, Family Favorite Meatloaf, and Sirloin Steak with Blue Cheese Butter. Home Chef is also running a giveaway offering five winners a signed cookbook and a $150 gift card. New customers can use the code 'GETCOOKIN' for 18 free meals and free shipping.
Kroger (NYSE: KR) has introduced new Disney and Pixar-inspired cakes in its stores nationwide. These cakes, featuring designs from Cars and Toy Story, were created by Kroger associates during the 2024 Cake Challenge. The competition, held in January, brought together top Certified Cake Decorators from 20 divisions, with representatives from Disney and DecoPac judging the entries.
The winning designs include a Cars Sheet Cake with Lightning McQueen, Cruz Ramirez, and Jackson Storm, and a Toy Story Sheet Cake with a 3D Woody decoration. Josh Harpole, VP of Deli and Bakery at Kroger, emphasized the importance of cake decorators in customers' special moments. Customers can order these cakes in-store or online, bringing a touch of Disney magic to their celebrations.
Kroger (NYSE: KR) has extended the expiration date for its exchange offers and consent solicitations related to Albertsons Companies, Inc. (NYSE: ACI) notes. The new expiration date is September 23, 2024, at 5:00 p.m. New York City time. This extension applies to the exchange of up to $7,441,608,000 aggregate principal amount of ACI Notes for new Kroger Notes and cash. The exchange offers and consent solicitations are contingent on the closing of Kroger's merger with ACI, expected in Q4 2024. As of August 29, 2024, the requisite consents were received for the Consented Series, with supplemental indentures executed. The Proposed Amendments will become operative upon settlement of the Exchange Offers. Kroger may further extend the Expiration Date and anticipates providing advance notice of any such extension.
Kroger (NYSE: KR) has been recognized by Newsweek as one of the "World's Most Trustworthy Companies" for 2024. This recognition is based on an independent survey of over 70,000 participants, evaluating companies that have earned the confidence of consumers, investors, and employees. Kroger's chairman and CEO, Rodney McMullen, attributes this trust to the company's Fresh for Everyone promise and the dedication of its associates.
The retailer is also known for its Zero Hunger | Zero Waste impact plan, which has directed more than 3.4 billion meals to end hunger since 2017. Kroger aims to donate 10 billion meals by 2030, following the completion of its merger with Albertsons Cos. Additionally, Kroger has been recognized for its workplace culture, diversity initiatives, and commitment to creating an inclusive environment for all employees.
Kroger (NYSE: KR) reported solid Q2 2024 results, with identical sales without fuel increasing 1.2%. The company achieved operating profit of $815 million and EPS of $0.64. Adjusted FIFO operating profit was $984 million, with adjusted EPS at $0.93. Kroger grew digital sales by 11% and increased total households, customer visits, and loyal households. The company updated its full-year identical sales without fuel guidance to 0.75% - 1.75%. Kroger reaffirmed its adjusted FIFO operating profit guidance of $4.6 - $4.8 billion and adjusted EPS guidance of $4.30 - $4.50. The company remains confident in its pending merger with Albertsons, citing potential benefits such as lower prices and expanded access to fresh, affordable food.
Kroger (NYSE:KR) has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes from September 13, 2024, to September 17, 2024. The exchange offers involve up to $7,441,608,000 aggregate principal amount of new Kroger notes and cash. As of September 11, 2024, significant portions of various ACI note series have been tendered, with many exceeding 90% participation. The exchange offers and consent solicitations are conditional upon the closing of Kroger's merger with ACI, expected in Q4 2024. Settlement is anticipated shortly after the expiration date and merger closing. The exchange offers remain subject to certain conditions and are only available to qualified institutional buyers or non-U.S. persons outside the United States.
The Kroger Co. and Procter & Gamble have launched the third year of their Game Changers program in conjunction with the LPGA's Kroger Queen City Championship. This initiative aims to advance women in sports, business, and education. Key highlights include:
- Over 400 women supported since the program's inception
- Nearly $100,000 awarded in scholarships
- 260+ graduates from the leadership program, with 25% of corporate participants earning promotions
- 23 female students to receive $2,000 scholarships in 2024
- The LPGA tournament will run from September 19-22 at TPC River's Bend
The event will feature various fan activations and amenities sponsored by P&G brands, including a Pampers Family Center, Gillette Venus Junior Day, and multiple brand-sponsored areas in the Fan Zone.
Kroger (NYSE: KR) announces the return of its Private Selection® Harvest Apple collection, featuring -edition fall-themed products available in stores starting September 8, 2024. The lineup includes customer favorites and new additions like Spiced Apple Cider and Caramel Apple Popcorn. The collection showcases autumn flavors such as cinnamon, clove, and caramel across various products including beverages, snacks, and baked goods.
Kroger aims to enhance the fall experience for customers with these exclusive offerings, available only in-store while supplies last. The company also provides Harvest Apple recipes and encourages customers to explore savings through digital coupons and the Boost by Kroger Plus membership program.
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