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) announced its participation in a National Convening addressing hunger, nutrition, and health issues in Washington, D.C. on July 14, 2022. This event aims to gather diverse perspectives to develop solutions for chronic diet-related diseases. Kroger's chairman, Rodney McMullen, emphasized the company's commitment through its Zero Hunger | Zero Waste initiative, targeting over three billion meals directed to families by 2025. The discussions will inform the upcoming White House Conference on Hunger, Nutrition, and Health scheduled for September 2022.
The Kroger Co. (NYSE: KR) announced the expansion of its delivery network with new facilities in Nashville, Tennessee and Maywood, Illinois, increasing delivery capabilities in Greater Nashville and the Chicago Metro Area. The Nashville facility spans 40,000 square feet and will create over 180 jobs, while the Maywood facility is nearly 80,000 square feet with similar employment opportunities. Customers can access Kroger's Boost membership for delivery savings.
The Kroger Co. (NYSE: KR) announced the national launch of its Boost membership program, enhancing its loyalty offerings. Members can enjoy unlimited free grocery delivery on orders over $35 and discounts on fuel, potentially saving up to $1,000 annually. The program features two membership tiers priced at $59 and $99, providing next-day and expedited delivery options. Following successful trials, Boost aims to attract more customers and increase delivery sales, capitalizing on the demand for convenience amid rising fuel prices.
Kroger has officially opened a Customer Fulfillment Center (CFC) in Pleasant Prairie, Wisconsin, enhancing its delivery network across the region. This facility, powered by Ocado Group, will create nearly 250 jobs and employs advanced robotics technology for efficient grocery delivery services. The CFC spans 336,840 square feet and will serve customers in Wisconsin, northern Illinois, and northwest Indiana. The project received state support, including $1.5 million in tax credits, to bolster its development while improving local infrastructure.
The Kroger Co. (NYSE: KR) announced a major expansion at Tamarack Farms Dairy in Newark, Ohio, featuring a new 35,000 square-foot aseptic milk production line. This cutting-edge facility will manufacture high protein dairy products and create over 150 jobs. The investment of $70 million aims to enhance Kroger's product offerings, support local dairy farmers, and improve economic stability in Newark and Licking County. This facility currently serves approximately 160 stores in Ohio and West Virginia and also supports Kroger's e-commerce platform.
The Kroger Co (NYSE: KR) has announced a noteworthy dividend increase from $0.84 to $1.04 per share, marking a 24% rise. The next quarterly dividend of 26 cents per share will be paid on September 1, 2022, to shareholders on record by August 15, 2022. This increase signifies the 16th consecutive year of rising dividends, supported by Kroger's robust financial health and strong cash flow. The company aspires to deliver total shareholder returns of 8% to 11% in the future, demonstrating its commitment to sustainable growth.
The Kroger Co. (NYSE: KR) is expanding its delivery services by opening a new customer fulfillment center (CFC) in Aurora, Colorado, powered by Ocado Group (LSE: OCDO). This facility will feature advanced robotics and is set to enhance the grocery shopping experience for residents in the Denver Metro Area. With nearly 300,000 square feet and the creation of around 400 new jobs, Kroger aims to redefine delivery logistics, utilizing cutting-edge technology for efficient operations. This expansion aligns with Kroger's ongoing commitment to improve customer service and accessibility.
The Kroger Co. (NYSE: KR) announced a strategic expansion of electric vehicle (EV) charging stations, enhancing customer access across the U.S. Over 350 chargers have already been installed in states like Arizona, California, and Texas. Collaborating with Blink, Electrify America, EVgo, Tesla, and Volta, Kroger aims to support a lower-carbon economy and help customers adopt sustainable practices. Charging times can be as short as 10 minutes, improving convenience for shoppers. More stations are planned in additional states by year-end, signaling Kroger's commitment to sustainability.
Unique Logistics International, Inc. (OTCMKTS: UNQL) announced a 12-month ocean freight contract with The Kroger Company (NYSE: KR). This new partnership, effective through April 2023, involves transporting goods from the Asia-Pacific region to North America. Kroger, a retail leader with over $137 billion in annual sales and 2,726 stores, seeks innovative solutions to enhance its supply chain. This collaboration highlights Unique's expertise in the retail logistics sector, positioning the company for growth.
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