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's Cincinnati-Dayton division and UFCW Local 75 members have ratified a new five-year labor agreement, investing $159 million in wages. This agreement will raise hourly pay by $4.78 during the contract term, with the average wage reaching nearly $20 per hour, excluding benefits. Kroger has committed over $800 million to wage increases over three years. The contract, covering 20,000 members across 104 stores, enhances job security, wages, and affordable healthcare, reflecting a collaborative effort between the company and the union.
The Kroger Co. (NYSE: KR) has successfully finalized an agreement with local unions regarding the transfer of pension liabilities to the UFCW Consolidated Pension Plan. This initiative secures the benefits of over 10,600 associates and minimizes market risk exposure while reducing administrative expenses. Kroger plans to transfer approximately $400 million in net accrued pension liabilities, with an estimated after-tax cost of $310 million. The financial implications include a projected charge of $0.40 per diluted share in Q1 2021, though this will not impact adjusted earnings.
The Kroger Co. (NYSE: KR) announced that CFO Gary Millerchip will speak at the virtual BMO 16th Annual Farm to Market Conference on May 19, 2021, at 8:00 a.m. ET. The presentation will be accessible via Kroger's investor relations website, where it will also be archived post-conference. Kroger aims to serve over nine million customers daily through its 2,800 retail stores and is committed to achieving #ZeroHungerZeroWaste communities by 2025.
The Kroger Co. (NYSE: KR) has launched the Go Fresh & Local Supplier Accelerator, inviting American growers and producers to apply for a partnership opportunity. Running from now until May 31, the program aims to discover new suppliers for Kroger's fresh departments. Fifteen finalists will be selected to present in August, competing for product placement, partnerships, and business coaching. Kroger aims to invest $10 billion in diverse suppliers by 2030, following a $4.1 billion investment in 2020, enhancing its commitment to providing fresh food to customers.
Kroger Health has launched Abbott's BinaxNOW™ COVID-19 Antigen Self Test, an over-the-counter rapid test for SARS-CoV-2, which has received FDA Emergency Use Authorization. The test offers results in just 15 minutes and can be used by individuals regardless of symptoms. Each kit includes two tests, facilitating better detection through serial testing.
Kroger Health continues its COVID-19 response efforts, having administered over 3.5 million vaccinations. The new at-home testing option aims to enhance diagnostic accessibility for Americans, supporting their return to normalcy.
The Kroger Co. (NYSE: KR) and Drone Express have initiated a pilot program for autonomous drone delivery aimed at enhancing Kroger's e-commerce capabilities. This innovation follows Kroger's impressive $10 billion e-commerce sales in 2020. The drone delivery system allows customers to receive groceries at their current location, including parks and beaches, with orders fulfilled within 15 minutes. The pilot will start test flights in Centerville, Ohio, with customer deliveries expected this spring, alongside a second pilot planned for Ralphs in California during summer.
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.
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