Welcome to our dedicated page for Kroger news (Ticker: KR), a resource for investors and traders seeking the latest updates and insights on Kroger stock.
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.
Bayer and Kroger have partnered with country music star Luke Bryan and Feeding America to launch the 'Take Care, Now' campaign, addressing food insecurity and 'hidden hunger' in rural America. The initiative aims to raise awareness, educate communities, and improve access to nutritious food and essential vitamins and minerals.
Key aspects of the campaign include:
1. Distribution of educational materials through Feeding America's network of food banks
2. Bayer's donation of up to 1 million meals and over 100,000 bottles of multivitamins and nutritional supplements
3. Kroger's efforts to expand access to fresh, affordable food and nutrition services
4. Awareness events at the Farm Progress Show and Luke Bryan Farm Tour concerts
The campaign has the potential to reach 200 food banks and over 60,000 partner agencies, impacting thousands of people across rural America daily.
Kroger (NYSE: KR) announced Boost Bonus Days, a two-week event from July 10-July 23 offering substantial savings for Boost by Kroger Plus members.
Members can access over $60 in savings, free items, and 50% off new and renewed annual memberships. The event provides free delivery options and double fuel points, enhancing the value of the Boost membership which already saves members up to $1,000 per year.
Free items during the event include Simple Truth Organic Cookies, Kroger Brand Spices, and more. The initiative aims to reward current members and attract new subscribers.
Kroger's Board of Directors has approved a 10% increase in the annual dividend, raising it from $1.16 to $1.28 per share. The next quarterly dividend of 32 cents per share will be paid on September 1, 2024, to shareholders of record as of August 15, 2024.
This marks the 18th consecutive year of dividend increases, with Kroger's dividend growing at a 13.5% compounded annual growth rate since 2006. The increase reflects confidence in Kroger's business model, consistent operating results, and strong free cash flow, enabling the company to return value to shareholders while investing in growth.
Kroger has honored 14,656 students nationwide as 'Zero Heroes' for their volunteer work in fighting hunger and waste through its Zero Hunger | Zero Waste youth engagement program. During the 2023-2024 school year, these students completed 107,175 volunteer hours, valued at $3.5 million in community impact. This initiative supports UN Sustainable Development Goals 2 (Zero Hunger) and 12 (Responsible Consumption and Production). Since its inception in 2019, the program has recognized over 46,425 students, generating a community impact valued at $10.8 million. The program encourages students aged 14-24 to engage in local volunteer efforts and earn awards for their contributions.
Kroger (NYSE: KR) is offering families affordable grilling recipes for Independence Day, with options costing as little as $15. The retailer provides various recipe ideas like Sweet and Spicy Grilled Porkchops, Grilled Lime Chicken with Mango Salsa, and Shrimp and Vegetable Kebabs. A special grilling bundle is available, serving the entire barbeque for just $4 per person. Additionally, Kroger offers discounts on grilling essentials, fresh produce, Home Chef mains and sides, bakery desserts, and beverages. Customers can shop in-store or online, with additional savings available through digital coupons and the Boost membership program, which offers significant annual savings on fuel and grocery delivery.
Kroger reported its Q1 2024 results with total sales of $45.3 billion, a slight increase from $45.2 billion in Q1 2023. Despite this, identical sales without fuel only saw a modest rise of 0.5%. Operating profit was $1,294 million, down from $1,470 million last year, while EPS dropped to $1.29 from $1.32. Adjusted figures show a decline in EPS from $1.51 to $1.43 and FIFO operating profit from $1,669 million to $1,499 million. The company experienced growth in digital sales by over 8%, particularly in delivery and pickup services.
Kroger reaffirmed its full-year 2024 guidance, projecting identical sales growth without fuel between 0.25% and 1.75%, adjusted FIFO operating profit between $4.6 billion and $4.8 billion, and adjusted EPS between $4.30 and $4.50. The company continues to focus on long-term investments, particularly in digital platforms and customer engagement, while pausing share repurchases to prioritize debt reduction.
Kroger, America's largest sushi retailer, is celebrating International Sushi Day on June 18 with special deals and -time flavors. Customers can enjoy fresh, restaurant-quality sushi made in-store daily, available for delivery via DoorDash and Uber Eats. Kroger started selling sushi in 1991 and now offers it in over 1,800 stores, with weekly sales exceeding one million rolls. Special offers include the CHEETOS® FLAMIN' HOT® California Roll and future DORITOS® FLAMIN' HOT® Limón Shrimp Tempura Roll. From June 12-18, in-store customers can save $2 on sushi items priced $11.99 or more, while DoorDash and Uber Eats users can buy one roll and get one free. Additionally, from June 20-July 24, DoorDash DashPass members get 50% off orders over $20.
Kroger Health's The Little Clinic has announced a revamped weight management program. This program offers a holistic, personalized approach with options like GLP-1 medication therapies including Wegovy and Zepabound. Starting at $99 per visit, it is available both in-person and via telehealth across states where The Little Clinic operates: Arizona, Colorado, Georgia, Indiana, Kansas, Kentucky, Ohio, Tennessee, and Virginia. The program emphasizes Kroger Health's 'Food as Medicine' philosophy, integrating resources on healthy foods, ongoing medical visits, routine coaching, and community support. Chief Nursing Officer Meggen Brown highlights the program's aim to improve overall wellbeing by providing accessible, affordable healthcare.
The Kroger Co. announced it will host its first quarter 2024 earnings conference call on June 20, 2024, at 10:00 a.m. ET. The event will feature commentary on the financial and operational results for Q1 2024 from Kroger's management team. Interested parties can access the live presentation online via Kroger's investor relations website under 'Quarterly Results.' A replay of the webcast will be available the same day at around 1:00 p.m. ET.
Kroger Co. (NYSE: KR) is celebrating the summer solstice on June 20, 2024, by giving away 45,000 pints of free Kroger Brand ice cream. For every minute of the 15-hour-long sunlight, 50 pints will be distributed. Customers can download a -time, single-use digital coupon from FreeKrogerIceCream.com to redeem their free pint. Popular flavors like Deluxe Tie Dye Burst, Mint Chocolate Chip, and Vivid Vanilla are included in the promotion. The offer is available at Kroger Family of Stores, except in certain states. Additionally, Kroger's digital platform offers over $600 in weekly savings and membership benefits like Boost by Kroger Plus, which includes 2x fuel points and free grocery delivery.
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