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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.
Kroger Health, the healthcare division of The Kroger Co. (NYSE: KR), introduced a new online COVID-19 vaccine scheduling tool designed to streamline appointment bookings. The tool can handle over 250,000 requests daily, allowing users to check eligibility and schedule both doses simultaneously. As of February 16, 2021, Kroger Health has administered over 380,000 vaccines across 25 states, with potential capacity to deliver 500,000 vaccines weekly. The initiative underscores Kroger's commitment to health safety and community service amidst the pandemic.
Kroger Health has announced plans to introduce the first smartphone-enabled, at-home Gauss COVID-19 Rapid Antigen Test Kit, making it easier for patients nationwide to access testing. The kit, pending FDA Emergency Use Authorization, will allow users to perform tests using only a smartphone, eliminating the need for lab involvement. Gauss has produced 1.5 million tests, with a capacity of 30 million monthly. The test showcases a 93% positive agreement and a 99% negative agreement compared to authorized PCR tests. It will be available at 2,200 Kroger pharmacies and online.
The Kroger Co. (NYSE: KR) announced a one-time payment of $100 for associates fully vaccinated against COVID-19. This initiative aims to encourage vaccination among its workforce. Additionally, Kroger is investing $50 million to reward its associates, including $100 store credit and 1,000 fuel points for eligible employees. The company has invested over $1.5 billion in associate rewards and safety measures since March 2020 and continues to support health initiatives, including hiring more healthcare personnel to assist in vaccine distribution.
The Kroger Co. (NYSE: KR) announced a quarterly dividend of 18¢ per share to be paid on March 1, 2021, for shareholders on record by February 12, 2021. The dividend has grown at a double-digit compound annual growth rate since its reinstatement in 2006. Kroger's strategy focuses on using free cash flow for business reinvestment and returning capital to shareholders while maintaining an investment-grade credit rating. However, the ability to sustain and increase dividends is contingent upon anticipated free cash flow and operational outcomes, as stated in forward-looking comments.
The Kroger Co. (NYSE: KR) has announced the election of Kevin Brown and Amanda Sourry to its board of directors, effective immediately, until the annual shareholder meeting in June 2021. Brown, with over twenty years at Dell Technologies, brings expertise in supply chain management, while Sourry, formerly the president of North America at Unilever, adds significant marketing experience in consumer packaged goods. The company also bids farewell to Bobby Shackouls, who retires after over 21 years of service on the board.
The Kroger Co. (NYSE: KR) has announced the establishment of a Customer Fulfillment Center (CFC) in Phoenix, Arizona, in partnership with Ocado. This center, part of Kroger's strategy to enhance customer service through automation and efficient distribution, aims to create around 700 jobs over the next five years. The 200,000-square-foot facility will provide a high-tech solution for online grocery fulfillment and is expected to be operational within 24 months of breaking ground. This investment underscores Kroger's commitment to redefining the grocery shopping experience.
Ralphs, part of The Kroger Co. (NYSE: KR), has begun administering the Moderna COVID-19 vaccine at its pharmacies in Los Angeles and Riverside Counties, offering the service at no cost. Vaccinations will extend to additional locations in San Diego, Santa Barbara, Ventura Counties, and Long Beach starting January 11. Eligible individuals must complete a disclosure form for Phase 1A. Ralphs has tested over 250,000 COVID-19 cases nationally and is the first retailer to offer rapid antibody tests. The vaccination rollout underscores Ralphs' commitment to public health amid the pandemic.
Kroger Health announced its plan to provide the COVID-19 vaccine at its over 2,200 pharmacies and 220 clinics nationwide, partnering with federal and state health departments. The rollout will begin with priority populations as defined by health officials. Kroger Health has already facilitated over 250,000 COVID-19 tests and will start administering the Pfizer-BioNTech vaccine in Alaska this week. The company is hiring nearly 1,000 healthcare personnel to support vaccine operations, emphasizing its commitment to public health and the goal of curbing the spread of COVID-19.
Kroger has partnered with Blackhawk Network to allow customers to add gift cards to their curbside pickup orders at 1,900 locations. This initiative comes as online grocery sales are projected to increase by 40% in 2020, with a significant preference for curbside pickup options. Blackhawk's On Demand Activation enables a seamless shopping experience, enhancing customer convenience and providing new revenue opportunities for retailers. The collaboration aims to adapt to evolving shopping behaviors, making gift card purchasing more accessible during holiday shopping.
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