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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, 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.
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.
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