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.
Federman & Sherwood has launched an investigation into The Kroger Co. over a data breach impacting current and former employees. The company claims to have learned of the breach on January 23, 2021, but the incident reportedly occurred in December 2020. Kroger utilized Acellion for secure file transfers, exposing sensitive personal information, including names, email addresses, birthdates, Social Security numbers, and salary details. This breach raises serious concerns about the company's data security practices.
Home Chef and Skinnytaste have partnered to enhance meal options amid the rising trend of home cooking, driven by the pandemic. The collaboration features eight co-created recipes under 550 calories, catering to various dietary needs, with weekly offerings starting April 23, 2021, and running until June 18, 2021. As one of the leading meal kit services, Home Chef has delivered over 3.5 million meals monthly and is rated #1 in customer satisfaction since 2018. This collaboration aims to meet growing demand for healthier, convenient meal solutions.
The Kroger Co. (NYSE: KR) has announced the expansion of its Our Brands Recycling Program, enabling customers to recycle flexible plastic packaging from all private-label brands, including Simple Truth® and Private Selection®. This program, developed with TerraCycle, allows consumers to mail in packaging like snack and pet food bags, contributing to the company's Zero Hunger | Zero Waste initiative. Kroger reported record sales of over $26.2 billion for its private-label brands in 2020, highlighting strong consumer demand for sustainable solutions.
The Kroger Co. (NYSE: KR) hosted its 2021 Investor Day on March 31, outlining a strategy aimed at achieving a total shareholder return of 8% to 11%. CEO Rodney McMullen emphasized a focus on freshness, value, and convenience through digital acceleration and customer loyalty. Key elements of the strategy include increasing sales via fresh food, enhancing profitability through digital growth, and widening competitive moats. The company reaffirmed its full-year guidance projecting net earnings growth of 3% to 5% and strong free cash flow for growth initiatives.
The Kroger Co. (NYSE: KR) will host a virtual investor conference on March 31, 2021, from 9:00 a.m. to 12:00 p.m. ET. Executives will discuss strategic initiatives, followed by a Q&A session. The live presentation can be accessed at ir.kroger.com. An on-demand replay will be available after 5:00 p.m. ET on April 1, 2021. Kroger aims to serve 60 million households and is committed to #ZeroHungerZeroWaste by 2025.
The Kroger Co. (NYSE: KR) declared a quarterly dividend of 18 cents per share, payable on June 1, 2021, to shareholders of record by May 14, 2021. The company's dividend has consistently grown at a double-digit compound annual growth rate since 2006. Kroger remains committed to its capital allocation strategy, focusing on profitable growth while maintaining an investment-grade debt rating. Future dividend funding will depend on the company's ability to generate anticipated free cash flow and operational results.
Kroger Health has ramped up its COVID-19 vaccination capacity, now able to administer one million doses weekly through pharmacies and clinics. This initiative includes a newly implemented focus hour dedicated to vaccinations. Kroger Health plans to initiate 100 mass vaccination events across the U.S., starting in Ohio and Kentucky. With over 2,250 pharmacies and 220 clinics, the organization aims to enhance access and speed up vaccine rollout, benefiting frontline workers and communities. The company focuses on collaboration with government officials to optimize vaccine distribution.
The Kroger Co. (NYSE: KR) has expanded its partnership with 80 Acres Farms to provide farm-fresh produce across Ohio and the Midwest. Starting March 15, 80 Acres Farms will supply produce to 316 Kroger stores in Ohio, Indiana, and Kentucky. This partnership emphasizes the availability of pesticide-free, nutritious produce year-round. The initiative aims to support Kroger's mission for 'Zero Hunger | Zero Waste' while ensuring customers have access to fresh, affordable food. The latest farm will deliver 10 million servings of produce to the community.
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