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.
Home Chef, a top meal solutions company, has partnered with Rachael Ray to launch an exclusive line of meal kits featuring her recipes. Beginning September 2022, Home Chef will offer 26 new recipes weekly for six months, combining Rachael Ray's easy-to-follow recipes with Home Chef's services. The meals are available online at Home Chef and in over 1,300 Kroger Family stores. This partnership aims to enhance convenience in home cooking and appeals to a diverse range of home cooks with a variety of meal formats including Classic Meal Kits and Oven-Ready meals.
The Kroger Co. announced the opening of a new spoke in Birmingham, Alabama, on Sept. 16, 2022, enhancing its grocery delivery service. This facility will operate as a last-mile cross-dock location, expanding delivery reach from the existing Atlanta fulfillment center. Employing over 160 associates, it aims to serve customers better and address food deserts in the area. Kroger's partnership with Ocado Group enables advanced grocery fulfillment through automation and AI technology, improving delivery efficiency and customer service.
The Kroger Co. (NYSE: KR) has declared a quarterly dividend of 26 cents per share, to be paid on December 1, 2022. Shareholders on record as of November 15, 2022 will be eligible. Since its reinstatement in 2006, Kroger's dividend has grown at a 14% compounded annual growth rate. The company plans to use free cash flow to invest in business while maintaining an investment-grade debt rating and providing shareholder returns of 8 – 11% over time.
The Kroger Co. (NYSE: KR) announced a collaboration with Goldman Sachs Ayco to provide financial counseling services to its associates. This program, piloted in Cincinnati/Dayton and Fry's divisions, offers free and confidential access to financial coaches. Associates can work on savings plans, avoid financial pitfalls, and maximize company benefits. This initiative positions Kroger as the first U.S. retailer to provide such support to hourly workers, enhancing the associate experience and promoting financial wellness.
Kroger Co. reported a strong second quarter in 2022 with identical sales without fuel increasing by 5.8% and operating profit reaching $954 million. Adjusted EPS was $0.90, while total sales hit $34.6 billion, up from $31.7 billion YOY. The company is focused on its 'Leading with Fresh' and 'Accelerating with Digital' strategies, resulting in a 10.2% increase in Our Brands sales and 8% growth in digital sales. Kroger also raised its full-year guidance for identical sales to 4.0%-4.5% and adjusted EPS to $3.95-$4.05, alongside a significant dividend increase and a new $1 billion share repurchase program.
GENYOUth, the Arizona Super Bowl Host Committee, Fry's Food Stores, and NFL Legend Drew Stanton have launched Mission 57: End Student Hunger. This initiative aims to combat food insecurity among Arizona youth by providing Grab and Go school meal equipment packages to 57 schools, enabling access to over 8.5 million meals for 31,000 students annually. Initiated amid a 10.9% annual food inflation, only 55% of eligible Arizona students currently participate in the school breakfast program. The project, supported by partners including Frito-Lay and The Quaker Oats Company, highlights the urgent need to address student hunger.
The Kroger Co. (NYSE: KR) and Procter and Gamble (NYSE: PG) announced the launch of their women's leadership initiative, Queen City Game Changers, on September 7, 2022. This program aims to enhance female advancement in sports, business, and education. The inaugural class consists of 130 leaders from Greater Cincinnati, offering mentorship and a structured eight-month curriculum. Additionally, five female scholars were awarded the Game Changers Scholarship, a $5,000 scholarship aimed at supporting multicultural women pursuing higher education. The initiative coincides with the Kroger Queen City Championship event from September 8-11, 2022.
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