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.
Home Chef is launching seasonal Thanksgiving and holiday menus for easy meal preparation. Available at Kroger stores and online, the offerings include both meal kits and ready-to-eat dishes, catering to various gathering sizes. Key items include a $49.50 Turkey Breast Roast and sides priced at $15.98 each, serving six. Orders can be placed starting October 14, 2022, for Thanksgiving and November 11 for Christmas, with deadlines set for noon CT on November 18 and December 16, respectively. Gift cards for meals are also available for the holiday season.
The Kroger Co. (NYSE: KR) announced plans to hire thousands of associates across various sectors including retail, e-commerce, and healthcare as part of their strategy for the holiday season and beyond. The hiring initiative aims to provide competitive pay and benefits, with investments of $1.2 billion in associate compensation since 2018. Kroger also offers educational support through a tuition reimbursement program, access to health resources, and various perks. Recruitment activities are ongoing throughout November, including virtual hiring events.
Kroger Co. (NYSE: KR) has launched its Our Brands Innovation Summit to enhance its private brand offerings. Open to suppliers across multiple categories, the program aims to identify innovative products that align with current market trends. Suppliers can apply until October 31, 2022, for virtual meetings with Kroger buyers scheduled for January 24-26, 2023. The initiative supports Kroger's mission to offer high-quality, affordable products while expanding its supplier network, contributing to its brand promise of being Fresh for Everyone.
The Kroger Co. (NYSE: KR) is set to launch its annual Winter Wine Box Celebration Pack, featuring 24 curated wines from various global regions, on October 9. Priced at $69.99, the box contains 6.3-ounce bottles, equivalent to six full-sized bottles. Customers can purchase it in-store or online, with delivery options available for Boost by Kroger members. This selection includes wines from Bulgaria, France, Hungary, Italy, Portugal, North Macedonia, South Africa, and Spain, catering to diverse tastes and special occasions during the winter season.
Kroger Health encourages flu vaccinations this October, offering a $5 coupon to customers receiving their flu shot at Kroger pharmacies or clinics until November 5. The CDC recommends vaccinations by the end of October for optimal protection, as flu cases typically spike during the winter months. With over 2,200 pharmacies and 226 Little Clinic locations, Kroger aims to enhance community health by providing accessible vaccination services. High-dose and regular flu shots are available, alongside updated COVID-19 boosters, to ensure customer safety during peak flu season.
Kroger announces a collaboration with Rachael Ray to launch a new line of meal kits through its subsidiary, Home Chef. This new product is now available in over 1,300 stores across the Kroger Family of Companies. The meal kits aim to provide simple, convenient recipes, catering to busy customers. The first offering features a Steakhouse Burger recipe, with additional meals to roll out monthly through mid-March. Home Chef continues to expand its retail presence, focusing on delivering quality meal solutions to consumers.
Kroger Health has announced its intention to terminate its pharmacy provider agreement with Express Scripts due to unsustainable pricing models. After numerous attempts to negotiate a fair contract since February, Kroger has made this decision to ensure access to affordable prescriptions and wellness services for its 17 million patients. If no new agreement is reached by December 31, 2022, most Express Scripts customers will lose access to Kroger pharmacies. Kroger is committed to enhancing healthcare services across its 2,200 pharmacies nationwide.
The Kroger Co. (NYSE: KR) announced new initiatives at the White House Conference on Hunger, Nutrition, and Health aimed at fighting hunger and improving community health. CEO Rodney McMullen highlighted Kroger's commitment to donate 3 billion meals by 2025 through its Zero Hunger | Zero Waste program. Key initiatives include a $250 million Food as Medicine research initiative, a new Zero Hunger | Zero Waste Innovation Fund, expanding telehealth nutrition services, and enhancing the OptUP nutritional scoring system for consumers.
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