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.
The Kroger Co. (NYSE: KR) has celebrated the opening of its 1,000th Murray's Cheese shop, expanding its presence to over 30 states. This milestone follows the introduction of Murray's cheese counters in 2008, offering customers a curated selection of more than 150 types of cheese along with expert guidance. Murray's Cave Aged cheese line recently won several awards at the 2022 World Cheese Awards, showcasing the brand's commitment to quality. This holiday season, Murray's features a variety of gourmet gift options and prepared cheese boards, enhancing the shopping experience for food lovers.
The Kroger Co. (NYSE: KR) announced it received a "second request" from the Federal Trade Commission (FTC) concerning its merger with Albertsons Companies, Inc. (NYSE: ACI). This request will extend the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Kroger remains optimistic about the merger's benefits, including improved competition, lower prices, and better access to fresh food. The company continues to expect the merger to complete in early 2024, while complying with FTC requests and planning potential divestitures.
Kroger Co. (NYSE: KR) reported a strong third quarter, with identical sales excluding fuel increasing by 6.9%. The company achieved an operating profit of $841 million and adjusted EPS of $0.88. Total sales reached $34.2 billion, up from $31.9 billion year-on-year. Digital sales grew by 10%, and the Fresh Produce Initiative accelerated, certifying 1,252 stores. Kroger raised its full-year guidance, expecting identical sales between 5.1% to 5.3% and adjusted EPS of $4.05 to $4.15.
The Kroger Co. (NYSE: KR) announced its Thanksgiving sales projections, expecting to sell 55 million pounds of turkey and more than 6 million pounds of cranberries. A survey by 84.51º indicates that 85% of customers plan to celebrate with traditional meals. In addition to turkey, Kroger highlighted new product offerings such as a half-pumpkin and half-pecan pie. Customers are also opting for seasonal cocktails. Kroger's Our Brands' products aim to make holiday meals affordable, featuring items like Private Selection Cheesecake Bites and Kroger Pumpkin Pie Ice Cream.
Kroger Co. (NYSE: KR) announced it will host its third quarter 2022 earnings conference call on December 1, 2022, at 9:00 a.m. ET. The management team will discuss the financial and operational results for the third quarter, which ended on November 5, 2022. The call will be available online, and a replay will be accessible around 1 p.m. ET on the same day. This event is part of Kroger's commitment to transparency and communication with investors.
The Kroger Co. Foundation has announced the Kroger Scholars for the 2022-2023 academic year, awarding $300,000 to 120 students, each receiving $2,500 for accredited education. Since its launch in 2008, the program has distributed over $4.5 million in scholarships to children of Kroger associates. Applicants were selected based on criteria including volunteering, academic performance, and extracurricular activities. Additionally, Kroger offers a tuition reimbursement program, contributing up to $21,000 for both part-time and full-time associates.
The Kroger Co. (NYSE: KR) released a holiday shopping guide aimed at helping families navigate inflation challenges by offering meals for 10 people at $5 per person. Despite a 20-cent increase in turkey price per pound, Kroger will absorb these costs, keeping prices low for customers. The guide includes traditional Thanksgiving items and emphasizes the quality of Kroger's products. Additionally, Kroger is increasing promotions and offers to lower prices during the holiday season, while also committing to donate one million meals to Feeding America as part of its social responsibility initiatives.
Ralphs Grocery Company shared insights into Southern California's favorite Thanksgiving side dishes, expecting mashed potatoes to top the list this year. Other anticipated favorites include stuffing, green bean casserole, cranberry sauce, and sweet potatoes. Ralphs also promotes its 2022 brand film highlighting holiday memories and offers services like Ralphs Pickup and Delivery for convenient shopping. Additionally, the Boost by Ralphs membership promises to save customers over $1,000 annually on grocery delivery. Ralphs is a subsidiary of Kroger, operating 184 supermarkets across Southern California.
The Kroger Co. (NYSE: KR) announced a virtual career expo for veterans and military families on November 10, 2022, from 1-2 p.m. ET. The event aims to connect veterans with job opportunities and features insights from veteran leaders within the organization. Over the last decade, Kroger has hired more than 50,000 veterans, recognizing their unique skills. Senior executives emphasize the importance of providing meaningful careers for service members and their families, showcasing Kroger's commitment to supporting their transition into civilian roles.
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