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) will host its second quarter 2022 earnings conference call on September 9, 2022, at 10:00 a.m. ET. This call will provide insights into the company's financial and operational performance for the quarter ending August 13, 2022. Investors can access the live presentation online at ir.kroger.com, with a replay available later that day. Kroger continues to focus on its commitment to sustainability with a goal of achieving #ZeroHungerZeroWaste communities by 2025.
The Kroger Co. (NYSE: KR) announced the winners of its second annual Go Fresh & Local Supplier Accelerator on August 25, 2022. Five new brands were selected to enhance Kroger's local product offerings and gain strategic mentorship. This initiative aims to bolster Kroger's commitment to invest $10 billion in diverse suppliers by 2030 and foster relationships with local brands. Each winner will receive product placement in Kroger stores and online in 2023, supporting Kroger's mission of being Fresh for Everyone.
The Kroger Co. (NYSE: KR) has opened two new spoke facilities in Greater Nashville and the Chicago Metro Area, expanding their delivery service. These facilities will enhance last-mile delivery operations and improve access to Kroger Delivery for customers in Tennessee and Illinois. The Nashville facility spans 40,000 square feet and employs over 180 associates, while the Chicago location is 80,000 square feet. Kroger's new Boost by Kroger membership program, priced at $59 or $99 annually, offers free delivery and rewards. This expansion reflects a partnership with Ocado Group for advanced grocery delivery solutions.
Kroger has officially opened a new 50,000 square-foot spoke facility in Louisville, Kentucky, enhancing its delivery capabilities in the Greater Louisville area. This facility will collaborate with the Customer Fulfillment Center in Monroe, Ohio to facilitate last-mile deliveries, employing up to 161 full-time associates. The facility supports Kroger Delivery and the Boost by Kroger membership program, offering significant savings on delivery and fuel points. Kroger continues to expand its logistics network, integrating advanced technology through its partnership with Ocado.
Kroger has officially launched a new Customer Fulfillment Center (CFC) in Dallas, Texas, aimed at enhancing customer experience through advanced robotics technology, in partnership with Ocado. This 350,000 square-foot facility is expected to create over 500 jobs and improve access to fresh groceries in the Dallas-Fort Worth area. Kroger's new delivery system utilizes machine learning for optimized routes and sustainability practices. Additionally, the Boost by Kroger membership program offers customers significant savings on deliveries and fuel.
Home Chef, a leading meal solutions company, expands its operations with a 181,000 square-foot facility in Douglasville, Georgia, enhancing its production capabilities. This facility is Home Chef's first single-tenant operation, featuring a 6,000 square-foot kitchen for in-house cooking and sauce production. The new center will create nearly 700 jobs and improve operational efficiency, supporting both e-commerce and retail needs. Acquired by Kroger in 2018, Home Chef continues to grow its service offerings by delivering high-quality meal kits.
Home Chef has partnered with Kevin Curry of FitMenCook to offer a limited-time menu featuring fresh, summer-inspired meals available online. This collaboration emphasizes easy-to-make and flavorful recipes that cater to health-conscious consumers. The menu includes dishes like Smoky Chipotle Chicken Tacos and Stuffed Chicken Parmesan, promising convenience and quality. Available from August 1 to 12, meal orders can be placed until noon CT on August 5. Home Chef, a subsidiary of Kroger (KR), aims to provide joy through home cooking with its diverse meal solutions.
The new Kitchen United MIX has launched inside the Kroger on East Mockingbird Lane, Dallas, offering a virtual food court with options for takeout or delivery. Customers can enjoy meals from various local and national brands such as Dog Haus and Fuku, with the convenience of multi-restaurant ordering. This marks the first Kitchen United MIX in Dallas and the third partnership with Kroger. The concept aims to provide high-quality meals while grocery shopping and is noted for its innovative technology.
Vitacost.com, a leading online retailer of health products, has relaunched its Autoship subscription service, formerly known as Set & Save, incorporating customer feedback to enhance its offerings. Shoppers can now enjoy $10 off their first order and a recurring 5% discount on many items, with additional savings on select brands. The program allows easy management of deliveries, making wellness shopping more convenient. This initiative aims to provide long-term value and savings to customers while reinforcing Vitacost's dedication to health and wellness.
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