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.
Kroger Co. (NYSE: KR) announced the expansion of its Kroger Delivery service with new fulfillment centers, powered by Ocado Group, aimed at enhancing grocery e-commerce. The new centers will operate in the Northeast, California, and Florida, offering same-day and next-day delivery. Kroger aims to double its digital sales and profitability by the end of 2023. The company emphasized its commitment to leveraging technology for customer satisfaction and increasing efficiency in operations.
The Kroger Co. (NYSE: KR) is set to host its second nationwide hybrid hiring event on October 13, aiming to recruit 20,000 associates across various roles, including retail, e-commerce, and healthcare. This initiative comes as part of Kroger's preparation for the upcoming holiday season. The company highlights its commitment to competitive wages, with over $800 million invested in employee compensation and training in the past three years. Kroger also offers extensive benefits, including tuition reimbursement up to $21,000, health resources, and flexible scheduling.
The Kroger Co. Chairman and CEO Rodney McMullen delivered the keynote address at Groceryshop in Las Vegas on September 22, 2021. He emphasized Kroger's commitment to integrating fresh offerings with digital advancements to enhance customer experience. Key insights included Kroger's intent to double its digital business by the end of 2023, a $350 million investment in associate wages, and their sustainable Zero Hunger | Zero Waste initiative, which has donated 1.8 billion meals in four years. Kroger aims to evolve its operations while addressing changing consumer behaviors.
The Kroger Co. (NYSE: KR) has declared a quarterly dividend of 21 cents per share, payable on December 1, 2021, to shareholders of record by November 15, 2021. This dividend reflects a consistent double-digit compound annual growth rate since its reinstatement in 2006. Kroger aims to utilize its free cash flow for business investments while returning capital to shareholders. The company anticipates increasing dividends over time, depending on board approval and future free cash flow generation.
Home Chef, the leading meal solutions company, launches a limited-edition product line featuring recipes hand-picked by U.S. gymnast Shawn Johnson East, starting September 20. This collaboration introduces 12 Oven-Ready kits available online and two in-store kits at Kroger. The initiative marks the first celebrity athlete appearance in Home Chef's offerings, indicated by a 'Selected by Shawn' badge. Johnson emphasizes the convenience of oven-ready meals, designed for busy families, highlighting options like Margherita Chicken and Shrimp Tostadas. The partnership aims to provide fresh, easy meal solutions for time-strapped consumers.
The Kroger Co. (NYSE: KR) has launched Kroger Delivery Now, a service offering 30-minute grocery delivery in partnership with Instacart. This service, available to 50 million households, features a selection of 25,000 items and is designed to enhance convenience without compromising on quality or price. Kroger aims to double its digital sales and profitability by the end of 2023, building on over $10 billion in e-commerce sales from the previous year. Instacart's Convenience Hub will assist in streamlining this service across major U.S. cities.
The Kroger Co. (NYSE: KR) reported its Q2 2021 results, revealing total sales of $31.7 billion, up from $30.5 billion year-over-year. However, identical sales, excluding fuel, fell 0.4%. Adjusted EPS increased to $0.80 from $0.73. Operating profit rose to $839 million, with a FIFO gross margin rate of 21.4% despite a 60 basis point decrease from last year. Kroger raised its full-year guidance, projecting adjusted EPS between $3.25 and $3.35. The company also declared a 17% dividend increase, marking 15 consecutive years of increases, and has repurchased $349 million in shares this quarter.
The Kroger Co. (NYSE: KR) has published its 2021 Environmental, Social and Governance (ESG) report, outlining a new long-term ESG strategy focused on enhancing food systems and community support. Key achievements include directing over $301 million to hunger relief and administering millions of COVID-19 vaccines. The report emphasizes goals across three pillars: People, Planet, and Systems, with aims to direct 3 billion meals to communities by 2025 and significantly reduce emissions.
The Kroger Co. (NYSE: KR) announced the winners of its first Go Fresh & Local Supplier Accelerator program, aimed at promoting innovative local products. Among the five winners are Maazah, Nona Lim, Queen Charlotte's Pimento Cheese Royale, Simply Southern Sides, and Soupergirl. Kroger's initiative received over 1,000 applications and seeks to diversify its product offerings by partnering with local suppliers. The company plans to bring these products to market by Q1 2022 and aims to increase its investment in diverse suppliers from $4.1 billion to $10 billion by 2030.
Kroger Health, a division of The Kroger Co. (NYSE: KR), has partnered with Lyft Healthcare to offer discounted rides to COVID-19 vaccine appointments. This initiative is part of Lyft's Vaccine Access Program aimed at increasing vaccine accessibility across the U.S., especially for those with transportation challenges. Individuals can receive a $12 Lyft ride code when scheduling an appointment at Kroger Family of Pharmacies or The Little Clinic. Kroger Health has administered over 6 million vaccine doses and continues to focus on improving vaccine equity amid rising COVID-19 cases.
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