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 Family of Companies (NYSE: KR) has received a 75%, 15-year data center sales tax exemption from the Ohio Tax Credit Authority. This exemption applies to technology equipment for Kroger's data centers in Blue Ash and Hamilton, Ohio, contingent upon a minimum $100 million capital investment over three years and an annual payroll of $1.5 million. Kroger's investments in technology are aimed at enhancing customer experiences and supporting expected online grocery growth of 40% in 2020, positioning the company favorably for future digital expansion.
Home Chef, a leading meal kit delivery service, has partnered with Impossible Foods to offer plant-based Impossible Burger options in its meal kits. Customers can now customize recipes by substituting traditional meat with the Impossible Burger, which boasts 19 grams of protein and zero cholesterol per serving. This collaboration enhances Home Chef's menu variety, featuring 19 weekly recipes, including various meal types. The partnership aligns with consumer trends favoring plant-based diets, aiming to provide more innovative meal solutions.
Ralphs and Food 4 Less, subsidiaries of Kroger (NYSE: KR), announced the installation of a photovoltaic solar power array at their 300,000-square-foot bakery in La Habra, California. The system includes nearly 3,000 solar panels expected to generate approximately 1 Megawatt (AC) of clean energy, equivalent to powering 240 homes annually. This is Kroger's second solar project in Southern California, part of their initiative to explore renewable energy and improve sustainability. The bakery employs over 200 associates and supports 303 grocery stores in the area.
FirstService Residential has partnered with Home Chef to provide discount offers to residents and associates in the communities managed by FirstService Residential. This initiative is part of their Lifestyle@Home program, aimed at enhancing convenience and savings. Home Chef, a leading meal kit delivery service, delivers fresh ingredients and easy recipes to over 2,000 Kroger stores and directly to homes. This collaboration is expected to cater to the busy lifestyles of residents, offering them quick meal preparation options.
Kroger Co. (NYSE: KR) has appointed Dentsu Aegis Network as its first integrated media agency of record, following a competitive selection process. The fresh@dentsu team, led by 360i, will manage media planning and buying across various channels including TV, social media, and online video. This partnership aims to enhance Kroger's 'Fresh for Everyone' brand transformation campaign and improve customer engagement through a more holistic media strategy. Kroger continues to focus on creating a seamless shopping experience and advancing its purpose of feeding the human spirit.
Gravity Diagnostics has received an updated Emergency Use Authorization (EUA) from the FDA for their Kroger Health COVID-19 Test Home Collection Kit, allowing self-collection using nasal swabs. This enhancement builds on a previous EUA granted on June 1, 2020. The collaboration aims to increase COVID-19 testing capabilities, targeting the processing of up to 60,000 tests weekly by the end of July. To date, over 250,000 samples have been processed, demonstrating the laboratory's rapid expansion in response to national testing needs.
Kroger Health has received FDA Emergency Use Authorization for its COVID-19 Test Home Collection Kit, enabling at-home sample collection supported by telehealth consultations. This initiative will initially serve frontline associates and aims to process up to 60,000 tests weekly by the end of July. The kit includes necessary materials for sample collection and guarantees privacy for test results. Kroger Health plans to expand availability across various states, addressing accessibility issues for individuals without transportation. This effort is part of Kroger's commitment to public health during the pandemic.
The Kroger Co. (NYSE: KR) announced a dividend increase from 64 to 72 cents per share, effective September 1, 2020. This marks the 14th consecutive year of annual dividend increases, demonstrating a commitment to return value to shareholders. The next payment of 18 cents will go to shareholders on record as of August 14, 2020. Kroger's CEO emphasized the company's strong free cash flow and continued plans for dividend growth. The company aims to balance capital investments and shareholder returns while maintaining its investment-grade debt rating.
Kroger Co. (NYSE: KR) reported a solid first quarter for 2020, with total sales reaching $42 billion, a 13.5% increase from $37 billion the previous year. Identical sales surged by 19% while adjusted EPS rose to $1.22 from $0.72. The company invested significantly in its COVID-19 response, allocating over $830 million to support associates and communities. Despite the strong quarter, Kroger refrained from providing 2020 guidance due to the unpredictable effects of the pandemic. The firm's capital allocation strategy remains focused on driving growth and maintaining an investment-grade debt rating.
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