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) and Inclusion Companies LLC will host The Wellness Experience, a wellness festival co-founded by Jewel, on August 20-21, 2021, in Cincinnati, OH. The festival includes live music, workouts, and cooking demonstrations, emphasizing overall health in light of recent events. The event aims to inspire healthy living and is free to attend, with activities like the Food As Medicine Expo and a donation drive for Freestore Foodbank. It reflects Kroger's commitment to community health and wellness.
Kroger Co. (NYSE: KR) reported its Q1 2021 results, showing total sales of $41.3 billion, a slight decline from last year. Key metrics include a 4.1% drop in identical sales and an EPS of $0.18, down from $1.52 YoY. Despite challenges, Kroger's digital sales grew significantly, up triple digits since 2019. The company announced a $1 billion share repurchase program and raised its full-year guidance for identical sales growth to 10.1%-11.6%. Notably, Kroger's gross margin rate decreased by 65 basis points due to higher shrink and price investments, affecting overall profitability.
The Kroger Co. (NYSE: KR) will hold its annual meeting of shareholders virtually on June 24, 2021, at 11 a.m. ET. Shareholders can participate from anywhere with internet access, allowing them to listen, vote, and submit questions. The meeting will be broadcast online at www.virtualshareholdermeeting.com/KR2021. An on-demand replay will be available approximately 24 hours post-meeting on Kroger's investor relations site.
Kroger is committed to its mission of feeding the human spirit and aims for #ZeroHungerZeroWaste communities by 2025.
The Kroger Co. has launched its Customer Fulfillment Center (CFC) in Groveland, Florida, marking its entry into the Florida market. This innovative e-commerce delivery service, powered by Ocado Group, utilizes advanced technology such as robotics and machine learning to enhance grocery delivery efficiency. The CFC, spanning 375,000 square feet, can fulfill thousands of orders daily. Kroger aims to offer a broad selection of fresh groceries and unique rewards programs, creating hundreds of jobs in the region while expanding its e-commerce capabilities in Florida.
Home Chef, a leading meal kit service, announced key leadership changes on June 8, 2021, aimed at enhancing growth and innovation. Erik Jensen will transition to President, reporting to CEO Pat Vihtelic, who emphasizes long-term strategies aligned with Kroger's e-commerce goals. Latasha Kempadoo joins as Chief People Officer, while David McCoy rises to Vice President of Finance. Home Chef has seen remarkable growth, with brand sales surging 118% in 2020 due to a shift towards online food orders, further solidifying its position as a significant player in the meal kit market.
The Kroger Co. (NYSE: KR) announced its nationwide hybrid hiring event on June 10, aiming to recruit 10,000 associates across various sectors including retail and e-commerce. The event reflects Kroger's commitment to improving employee welfare, having invested $800 million in wages and training over the past three years to raise the average wage to over $15.50, with a goal of reaching $16 this year. The company also promotes career development through tuition reimbursement of up to $21,000 and robust health and wellness programs.
The Kroger Co. (NYSE: KR) announced its first quarter 2021 earnings conference call scheduled for June 17, 2021 at 10:00 a.m. ET. The management will discuss financial and operational results for the quarter, which ended on May 22, 2021. The conference call will be available for online streaming via the company's investor relations website, with a replay set for approximately 1 p.m. ET the same day.
Kroger aims to serve over nine million customers daily across its 2,800 retail stores and is committed to creating #ZeroHungerZeroWaste communities by 2025.
Kroger Health has launched the #CommunityImmunity Giveaway to encourage COVID-19 vaccinations among Americans. Running from June 3 to July 10, 2021, the initiative offers $5 million in prizes, including five $1 million checks and 50 prizes of groceries for a year. Participants must be 18 or older and vaccinated at a Kroger location to enter. This campaign aligns with the Biden Administration's goal of achieving 70% vaccination among U.S. adults by July 4. Kroger Health has administered over 4.7 million vaccines to date.
Kroger Health is partnering with Turner Sports and NBA All-Star Trae Young to improve COVID-19 vaccination access in underserved communities in Atlanta. Despite 62% of American adults receiving at least one vaccine dose, Black and Brown communities remain significantly underserved. Kroger Health, as a leading healthcare provider, aims to bridge this gap, delivering over 4.7 million vaccines nationwide. The initiative emphasizes the importance of accessibility and awareness in healthcare, particularly in vulnerable areas like Fulton County.
Kroger Health, part of The Kroger Co. (NYSE: KR), is initiating the #CommunityImmunity giveaway campaign to motivate Americans to receive COVID-19 vaccinations. Beginning next week, the campaign will feature prizes totaling $5 million, including five $1 million payouts and 50 annual grocery giveaways. This initiative follows a collaboration with the Biden Administration aimed at achieving a 70% vaccination rate among U.S. adults by July 10. Kroger Health has already administered over 4.6 million vaccines, continuing to expand its vaccination efforts to support public health.
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