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.
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.
The Kroger Co. (NYSE: KR) launched its 2022 holiday film, "Today's Holiday Moments are Tomorrow's Memories," showcasing a family's holiday memories centered around food. The film features a Kroji character and was created with production company Hornet and agency DDB. It features a rendition of "Iris" by Colbie Caillat, enhancing the emotional narrative. The campaign, emphasizing food's role in holiday traditions, will air during major Thanksgiving events and includes a printable coloring book. Kroger aims to inspire customers by highlighting memorable moments shared over meals.
Kroger/Ralphs and Cardinal Health are partnering for annual drug take back events on October 29, 2022, at over 150 pharmacy locations nationwide. This initiative aims to combat the rising misuse of prescription medications, as 66% of U.S. adults use them. Events will feature law enforcement onsite for safe disposal of expired drugs. Participating Ralphs locations in Southern California will operate from 10 a.m. to 2 p.m.. The collaboration continues Cardinal Health's Generation Rx program, emphasizing safe medication use.
Ralphs Pharmacy, part of Kroger Health, urges customers to get their flu shots before the end of October for optimal protection during flu season. The CDC recommends vaccination to prevent flu-related hospitalizations, which can reach up to 710,000 annually in the U.S. Ralphs offers both high-dose and regular flu vaccines and provides a $5 grocery coupon for eligible customers receiving a shot by November 5. Vaccinations are administered by Certified Immunizing Pharmacists, and updated COVID-19 boosters are also available.
Kroger has officially launched its new Customer Fulfillment Center (CFC) in Romulus, Michigan, to enhance its grocery delivery services in the greater Detroit area. This 135,000-square-foot facility utilizes advanced robotics and machine learning technology in partnership with Ocado Group. The CFC aims to deliver groceries to customers within 90 minutes, employing over 700 associates. This initiative builds on Kroger's Boost membership program, offering significant savings on deliveries. Kroger's ongoing expansion reflects its commitment to redefining online grocery shopping.
Kroger and Albertsons Companies have announced a merger agreement, valuing the deal at approximately $24.6 billion, including $4.7 billion in Albertsons' net debt. Shareholders of Albertsons are set to receive $34.10 per share, with a special cash dividend of up to $4 billion. This merger aims to create a national footprint, enhancing customer accessibility to affordable food across 85 million households. Kroger plans to invest $1 billion in associate wages and $1.3 billion to improve customer experience, while expecting $1 billion in annual synergies post-merger.
FAQ
What is the current stock price of Kroger (KR)?
What is the market cap of Kroger (KR)?
What services does The Kroger Co. provide?
How is Kroger involved in community support?
What are some of Kroger’s recent expansions?
What financial achievements has Kroger made recently?
What is the significance of the Kroger-Albertsons merger?
How does Kroger ensure sustainable growth?
What role do private-label products play in Kroger's business?
How does Kroger utilize technology and digital platforms?
What are Kroger's key financial strategies?
How can I stay updated on Kroger's latest news and updates?
