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.
Ralphs and Kitchen United MIX have launched their first kitchen center in Westwood, Los Angeles, on January 5, 2022. This collaboration allows customers to order freshly prepared meals from multiple participating restaurants digitally or via an in-person kiosk. The initiative aims to enhance convenience for shoppers while offering restaurant-quality meals. Additional locations in Texas are set to open later this month. This partnership, announced in August 2021, marks a strategic expansion for Kroger, reinforcing its commitment to innovative solutions and fresh food accessibility.
The Kroger Co. (NYSE: KR) has authorized a new $1 billion share repurchase program, replacing the previous authorization with approximately $157 million remaining. This decision reflects the Board's confidence in Kroger's cash flow and aims to enhance shareholder returns. The repurchase program allows for shares to be bought in various transactions without a set expiration, although it can be suspended or terminated by the Board. Kroger remains committed to investing in its business and returning excess cash to shareholders through share repurchases and dividends.
The Kroger Co. announced the expansion of its fulfillment network in Indianapolis, enhancing its grocery delivery services. This new 48,000-square-foot facility will collaborate with a hub in Monroe, Ohio, to deliver fresh groceries to 35 Central Indiana ZIP codes. Kroger aims to improve customer access to fresh food with delivery fees starting at $6.95. The expansion will create up to 150 jobs in the area and leverages technology from partner Ocado to optimize delivery efficiency. This move reflects Kroger's commitment to e-commerce and advancing customer service.
Kroger Co. has promoted Laura Gump to president of its Houston division as of December 13, 2021, succeeding Joe Kelley. Gump, who has over 34 years of grocery retail experience, previously served as vice president of merchandising for the Houston division. Her leadership aims to enhance customer experience, team engagement, and community support. Gump is also involved in initiatives promoting women's leadership and community engagement, reflecting Kroger's commitment to diversity and customer service.
The Kroger Co. (NYSE: KR) announced the establishment of a new customer fulfillment center (CFC) in North Carolina, powered by Ocado Group (LSE: OCDO). This CFC, measuring 200,000 square feet, aims to enhance delivery services with advanced technology, including robotics and machine learning. Expected to employ up to 700 associates over five years, the facility will be operational within 24 months. Kroger’s existing CFCs are located in Groveland, FL, and Monroe, OH, with additional sites planned across the U.S.
On December 7, 2021, Home Chef announced a partnership with USAA Alliance Services to provide exclusive discounts for its members. Active and retired military members can enjoy a 50% discount on their first meal kit and 15% off subsequent orders. This collaboration aims to enhance meal accessibility and foster family connections during mealtimes. Home Chef, a leader in meal solutions, emphasizes convenient cooking with fresh ingredients delivered to customers' doorsteps. The company is a subsidiary of Kroger (KR) and serves over 2,200 retail locations.
The Kroger Co. (NYSE: KR) reported its Q3 2021 results, showing a 3.1% increase in identical sales and total sales of $31.9 billion, up from $29.7 billion year-over-year. Adjusted EPS rose to $0.78 from $0.71, while operating profit increased by 9.6% to $868 million. The company is raising its full-year sales guidance to 13.7% to 13.9% and expects adjusted EPS of $3.40 to $3.50. Kroger's capital strategy includes a commitment to returning cash to shareholders through share repurchases and dividends amid ongoing investments in digital and fresh food initiatives.
Kroger (NYSE: KR) announces a partnership with Kipster Farms to introduce the world's first carbon-neutral, cage-free eggs in the U.S. The eggs will be produced in a closed-loop system that adheres to high health and welfare standards for both people and animals. This initiative enhances Kroger's commitment to sustainability and its Zero Hunger | Zero Waste mission. MPS Egg Farms is constructing the first production facility, and the new Simple Truth eggs are expected to hit select store shelves in late 2022. This partnership aligns with Kroger's Environmental, Social, and Governance strategy.
Home Chef, a leading meal solutions company, has launched a new digital gifting platform integrated with GiftNow, a Synchrony solution (NYSE: SYF), enhancing the gift card purchasing experience. This platform features personalized e-gift cards, offering customers seasonal designs and the ability to add video messages and photos. Customers can send these e-gift cards instantly or schedule delivery up to three months in advance. The offering aims to create a more seamless and personalized gifting experience, aligning with the holiday season.
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