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.
UserTesting (NYSE: USER) has partnered with Home Chef, a leading meal solutions brand and subsidiary of Kroger (NYSE: KR), to enhance customer experience through its Human Insight Platform. This collaboration will facilitate efficient gathering of customer insights, enabling Home Chef to improve service delivery and align offerings with consumer preferences. Home Chef delivers over 7 million meals monthly, providing a variety of meal solutions across 2,200 Kroger stores in the US. The partnership aims to drive growth and refine customer experiences through targeted feedback.
The Kroger Co. (NYSE: KR) has launched a new shopping initiative at 25 Fred Meyer stores in Portland, Oregon, in collaboration with Loop, a reuse platform by TerraCycle. Customers can now buy over 20 products in reusable packaging instead of single-use plastics, aligning with Kroger's sustainability goals. The project aims to promote environmental responsibility by allowing customers to return empty containers for reuse. This partnership marks Kroger as the first grocery retailer in the U.S. to offer this innovative shopping experience, emphasizing its commitment to sustainability and the circular economy.
Kroger has partnered with Kitchen United to open a new kitchen center in Houston, Texas, allowing customers to order freshly prepared meals from various restaurants. Located at 1035 N. Shepherd Drive, this center is the second collaboration between the two companies, following a successful launch in California. The Kitchen United MIX platform enables digital ordering for pickup or delivery, featuring dishes from over 10 restaurant brands. This initiative aims to enhance customer dining options and aligns with Kroger's strategy to provide fresh meal solutions.
The Kroger Co. (NYSE: KR) will host a business update in Florida on March 4, 2022, featuring a tour of the Groveland Customer Fulfillment Center. Executives will outline the company's strategic initiatives, including 'Leading with Fresh' and 'Accelerating with Digital.' The event prioritizes safety, limiting in-person attendance to invitees only. It will also be streamed online from 8:30 a.m. to 11 a.m. ET. A replay will be available later that day at 3 p.m. ET.
The Kroger Co. is expanding its fulfillment network by opening a new spoke facility in Oklahoma City, powered by Ocado Group. This 50,000-square-foot facility aims to enhance grocery delivery by collaborating with a hub in Dallas, allowing service to areas up to 200 miles away. Kroger's strategy targets doubling digital sales and profitability by the end of 2023, and will employ up to 191 associates. This initiative follows Kroger's earlier success in Florida, showcasing their commitment to innovation in e-commerce and improved access to fresh food.
The Kroger Co. (NYSE: KR) will host its fourth quarter 2021 earnings conference call on March 3, 2022, at 10 a.m. ET. The management team will discuss financial results for both the fourth quarter and full year 2021. The presentation will be available online at ir.kroger.com, with an on-demand replay starting at approximately 1 p.m. ET on the same day. Kroger's fourth quarter concluded on January 29, 2022, and aims to highlight operational performance and growth strategies during the call.
The Kroger Co. (NYSE: KR) announced the retirement of senior vice president Mark Tuffin effective April 1, 2022, after over 26 years of service. He will be succeeded by Kenny Kimball, currently president of the Smith's division. Kimball, who joined Kroger in 1984, has held various leadership roles, bringing extensive experience to his new position. Kroger's CEO Rodney McMullen praised Kimball's leadership qualities and commitment to customer service.
The Kroger Co. (NYSE: KR) has officially opened the Customer Fulfillment Center (CFC) in Forest Park, GA, powered by Ocado Group (LSE: OCDO). This facility enhances Kroger's grocery e-commerce capabilities through advanced technology, including robotics and machine learning, aimed at providing efficient grocery delivery services. The CFC can fulfill thousands of orders daily and serves customers up to 90 miles away. The launch is expected to create hundreds of job opportunities while improving customer service and satisfaction.
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