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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.
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.
The Kroger Co. (NYSE: KR) has partnered with Kitchen United to offer customers on-demand meal services from popular restaurants. This collaboration features ghost kitchens at select Kroger locations, enabling customers to order from multiple restaurants simultaneously. The first kitchen is set to open at a Ralphs store in Los Angeles this fall, with further expansions planned. This initiative aims to enhance Kroger's service offerings, allowing customers to conveniently order meals while grocery shopping.
The Kroger Co. (NYSE: KR) has elected Elaine Chao to its board of directors, effective immediately. Chao's extensive experience includes serving as U.S. Secretary of Labor and U.S. Secretary of Transportation, along with roles in numerous Fortune 500 companies. Her election is part of Kroger's strategy to enhance corporate governance and bring diverse perspectives to the board. Chao will serve until the annual meeting of shareholders in June 2022, at which point she will stand for re-election.
Kroger's Central Division has ratified new labor agreements with UFCW Local 536, benefiting over 1,100 associates in central Illinois. The agreements, which last three years, include a substantial investment of $11.3 million in wage increases. Associates will receive enhanced pay, affordable health care, and ongoing contributions to pension funds. Colleen Juergensen, president of Kroger's Central Division, expressed satisfaction with the outcome, highlighting the collaborative efforts of both bargaining committees. The contracts cover retail and meat clerks across 13 stores in cities like Peoria and Bloomington.
The Kroger Co. (NYSE: KR) has partnered with Inclusion Companies LLC and co-founder Jewel to present The Wellness Experience in Cincinnati, OH, on August 20-21, 2021. This free festival aims to promote health and wellness, featuring over 100 interactive experiences across health, nutrition, activity, and inspiration. Notable participants include NASCAR driver Kyle Busch and wellness advocates like Tabitha Brown. Kroger Health, with 2,200 pharmacies serving over 14 million customers, emphasizes 'food as medicine' and mental well-being during this event, which offers valuable resources for healthier living.
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