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) will host its third quarter 2021 earnings conference call on December 2, 2021, at 10:00 a.m. ET. The management team will discuss financial and operational results for the quarter ending November 6, 2021. An online broadcast of the presentation will be available on ir.kroger.com, with an on-demand replay accessible by 1 p.m. ET on the same day.
The Kroger Co. has issued a statement advising that a press release about accepting Bitcoin Cash during the holiday season is incorrect. The company clarified that this news was not authorized and should be disregarded. This announcement highlights the importance of verifying information before public dissemination.
The Kroger Co. (NYSE: KR) has announced it will start accepting Bitcoin Cash for all in-store and online purchases starting December 1, 2021. This move aligns with the growing trend of cashless payments, as noted by CEO Rodney McMullen. Bitcoin Cash offers a more cost-effective transaction method compared to Bitcoin, with fees often under one penny. Kroger's acceptance of Bitcoin Cash will enhance customer payment options across its 2,700 stores, including popular brands like Baker's and Fred Meyer.
The Kroger Co. (NYSE: KR) and Bed Bath & Beyond Inc. (NASDAQ: BBBY) have announced a strategic collaboration to enhance Kroger's e-commerce offerings. Starting in early 2022, Kroger customers will have access to a wide range of home and baby products from Bed Bath & Beyond through Kroger.com and select physical stores. This partnership aims to provide convenient shopping experiences, fulfilling customer needs for essential household items alongside groceries. Both companies anticipate that this initiative will reach a broader customer base, leveraging Kroger's extensive market presence.
Kroger Co. (NYSE: KR) and Bed Bath & Beyond Inc. (NASDAQ: BBBY) announced a strategic collaboration to offer Kroger customers a variety of home and baby products online and in select stores starting in 2022. This initiative allows Kroger shoppers to purchase items from Bed Bath & Beyond and buybuy Baby, aiming to enhance the shopping experience. The collaboration highlights Kroger’s commitment to innovation and product variety while expanding Bed Bath & Beyond's reach to a broader audience. This partnership is expected to drive sales growth for both companies.
Harris Teeter has announced the retirement of President Rod Antolock, effective February 1, 2022, after nearly 22 years with the company. He will be succeeded by Tammy DeBoer, currently serving as senior vice president of merchandising, operations, and marketing. Antolock, who joined in 2000, was instrumental in expanding Harris Teeter into new geographical areas and developing its customer engagement model. DeBoer brings over 25 years of retail experience and has previously held executive roles in other organizations, positioning her as a strong candidate for the presidency.
The Kroger Co. (NYSE: KR) and its meal solutions brand, Home Chef, have announced that Home Chef has surpassed $1 billion in annual sales. Founded in 2013, Home Chef merged with Kroger in 2018 and has since expanded meal options such as meal kits and heat-and-eat meals. The brand has over 500 products available at more than 2,200 Kroger stores. Home Chef aims to simplify cooking with fresh ingredients and diverse options, catering to busy families looking for quality meal solutions.
Anthem Blue Cross and Blue Shield in Ohio and Kroger Health have launched new 2022 Medicare Advantage plans aimed at improving overall health through enhanced benefits. These plans offer a Healthy Groceries Card, loaded with up to $75 monthly, allowing eligible members to buy nutritious food and health items at Kroger locations. Additional benefits include allowances for over-the-counter health items and dietitian sessions. The annual enrollment period starts on October 15, 2021, and runs until December 7, 2021.
Anthem Blue Cross and Blue Shield in Georgia and Kroger Health have launched new Medicare Advantage plans for 2022 that cater to overall health and wellness needs. Eligible members will receive a Healthy Groceries Card with $75 monthly to purchase nutritious food at Kroger stores, along with an over-the-counter (OTC) allowance for health-related items. The collaboration aims to improve access to affordable healthcare and integrates nutrition into preventive care. The enrollment period for these plans runs from October 15 to December 7, 2021.
Anthem Blue Cross and Blue Shield and Kroger Health have announced new Medicare Advantage plans for 2022, focusing on comprehensive health needs, including nutrition. Members in Kentucky can use a Healthy Groceries Card, loaded with up to $100 per month, at Kroger stores to buy healthy food. Additional benefits include a quarterly allowance for over-the-counter health items and access to 12 monthly sessions with a dietitian. Enrollment starts October 15, 2021, for eligible residents across six Kentucky counties.
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