Welcome to our dedicated page for The Kroger Co. news (Ticker: KR), a resource for investors and traders seeking the latest updates and insights on The Kroger Co. 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.
Kroger (NYSE: KR) announces an expansion of its collaboration with Gotham Greens to provide greenhouse-grown produce and plant-based foods across the U.S. Currently available in over 300 stores, the partnership aims to reach nearly 1,000 stores by the end of 2023. This initiative aligns with Kroger's commitment to sustainability, aiming for zero food waste to landfill by 2025. Gotham Greens uses innovative farming methods, requiring 95% less water and 97% less land than traditional farming, to deliver quality, non-GMO, pesticide-free products year-round. This partnership enhances Kroger's fresh food offerings while supporting environmentally friendly practices.
Kroger Health has been awarded the title of Retailer of the Year by Mass Market Retailers for its innovative health initiatives. This recognition highlights the organization's commitment to linking nutrition and health through its food as medicine initiative, and enhancing fair reimbursement for community pharmacists. Kroger Health operates over 2,200 pharmacies and 226 clinics across 35 states, serving more than 17 million customers annually. The award emphasizes Kroger Health's leadership in retail healthcare, collaborative industry relationships, and effective use of technology. As a health division of Kroger (NYSE: KR), it aims to provide accessible and affordable healthcare solutions.
The Kroger Co. (NYSE: KR) has received the 2023 Campus Forward Award for its excellence in early career hiring. Recognized in the Enterprise Early Career Programs category, Kroger has established effective internship programs aimed at developing talent from diverse backgrounds. Key highlights include a commitment to innovation in recruitment, a focus on diversity and inclusion, and impactful mentorship programs. The award, given by RippleMatch, celebrates organizations making significant investments in early career hiring and community engagement. This recognition underscores Kroger's commitment to nurturing the next generation of leaders.
Kroger (NYSE: KR) has opened a new spoke facility in Miami, Florida, enhancing its delivery service and creating 90 jobs. This 60,000-square-foot facility will work alongside the Groveland fulfillment center to ensure peak freshness for grocery deliveries across South Florida. The expansion supports Kroger's partnership with Ocado Group, leveraging AI and robotics for an efficient delivery network. Customers can benefit from thousands of digital coupons and a membership program that offers substantial savings. The move aims to capitalize on South Florida's growth potential, catering to over a million households.
Food 4 Less is gearing up for the 2023 NASCAR Cup Series by participating in the Busch Light Clash at the Los Angeles Memorial Coliseum this weekend. The Food 4 Less/Velveeta Camaro, driven by two-time NASCAR Cup Series winner Ricky Stenhouse Jr., will compete in the race. Fans can meet Stenhouse Jr. on February 3 at the Food 4 Less store in Gardena, CA, from 4-5 PM Pacific. The race day kicks off with qualifying heats on February 5 at 2 PM Pacific, followed by the main race at 5 PM Pacific. Food 4 Less, a subsidiary of Kroger (NYSE: KR), operates over 121 supermarkets across Southern California, Illinois, and Indiana.
Home Chef has partnered with Life Time to offer exclusive meal solutions to Life Time members, enhancing their ability to prepare simple and healthy meals at home. This initiative will provide members with discounts on Home Chef meal kits, which include fresh ingredients and easy-to-follow recipes.
The collaboration marks Life Time's first partnership with a national meal kit brand and aims to improve home cooking convenience for members. The integrated partnership will run through 2025, underscoring Home Chef's commitment to accessible meal preparation. Life Time members can benefit from various offers, including birthday perks and meal recommendations.
Kroger Co. (NYSE: KR) has released its 2023 Food Trends Report, highlighting the continued trend of home cooking as consumers shift towards celebrating special moments with family and friends. As pandemic concerns decline, customers are embracing cooking at home to save money. The report emphasizes the popularity of celebratory foods, with items like cheese and cheesecake gaining traction. Additionally, the report suggests a rise in seafood consumption and global flavors. Kroger also promotes its Boost membership service, which can save consumers up to $1,000 annually on grocery delivery.
Kroger Health has launched a clinical trial site network aimed at enhancing access to colorectal cancer research. In collaboration with Persephone Biosciences, they are actively recruiting participants for the ARGONAUT clinical study, which investigates microbiome-based biomarkers for colorectal cancer. The initiative begins in Toledo, Ohio, with plans to enroll 55 individuals with varying risk levels.
With a significant presence in socially vulnerable areas, Kroger aims to utilize its pharmacy network to improve healthcare accessibility. The trial leverages data analytic capabilities and patient engagement tools to enhance recruitment and retention throughout the study.
The Kroger Co. (NYSE: KR) announced that its Community Rewards program has contributed over $200 million to local charities since its inception in 2017. The program enables loyalty members to choose local nonprofits to benefit from their purchases. Thousands of organizations, including schools and youth sports, have received funding, showcasing Kroger's commitment to community support. CEO Rodney McMullen emphasized the program's ease of participation and the importance of customer involvement in charitable contributions. Customers can track their donations quarterly via their Kroger accounts.
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