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) has committed over $270,000 in emergency grants to support over 500 associates affected by the Texas winter storm. The company is collaborating with local governments and organizations like the Houston Food Bank to provide essential resources, including drinkable water. Kroger has also pledged $190,000 to Dallas' Disaster Relief Fund and $180,000 to the Houston Harris County Fund. Additionally, Kroger Health has administered over 600,000 COVID-19 vaccines across states, resuming services as power is restored.
The Kroger Co. (NYSE: KR) announced the retirement of Mike Donnelly, executive vice president and COO, effective later this spring after 42 years of service. His leadership has emphasized customer experience, including fresh foods and reliable service. Donnelly's career at Kroger included various roles since joining as a clerk in 1978. A succession plan will be revealed later. Kroger, which serves over 11 million customers daily, remains committed to its purpose of feeding the human spirit and aims to create #ZeroHungerZeroWaste communities by 2025.
The Kroger Co. (NYSE: KR) confirmed a data security incident involving Accellion, Inc., affecting certain files accessed through their services. Kroger reported that less than 1% of customers, primarily from Kroger Health and Money Services, were impacted, with no credit card or password data compromised. Following the breach, Kroger terminated its use of Accellion, notified federal law enforcement, and began an investigation. Affected individuals will be offered free credit monitoring.
The Kroger Co. (NYSE: KR) will host its fourth quarter 2020 earnings conference call on March 4, 2021, at 10:00 a.m. ET. Management will discuss financial and operational results for both the fourth quarter and the full year 2020. The presentation will be available online at ir.kroger.com, with a replay accessible at approximately 1 p.m. ET on the same day. Kroger aims to foster #ZeroHungerZeroWaste communities by 2025, serving over 11 million customers daily across its brands.
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.
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