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) announced on September 14, 2020, that associates at 98 stores in Dallas ratified a new labor agreement with UFCW Local 1000. The agreement will lead to wage increases for over 11,000 associates, with Kroger investing an additional $300 million in associate wages, totaling $800 million by year-end as part of its Restock Kroger initiative. The deal also includes ratification bonuses, retroactive pay, and enhanced health benefits for employees. This agreement reflects Kroger's continued commitment to its workforce and community support.
The Kroger Co. (NYSE: KR) reported strong Q2 2020 results, showcasing a 14.6% increase in identical sales and an EPS rise to $1.03 from $0.37 YoY. Total sales reached $30.5 billion, up from $28.2 billion, reflecting a 13.9% growth excluding fuel. The gross margin improved to 22.8%, while operating profit increased to $820 million. Kroger authorized a new $1 billion share buyback program and raised dividends by 13%, marking 14 consecutive years of increases. For FY 2020, Kroger expects identical sales growth exceeding 13% and adjusted EPS growth of 45%-50%.
Kroger Health, the healthcare division of Kroger Co. (NYSE: KR), launched an extensive flu shot program to facilitate vaccinations amid the COVID-19 pandemic. This initiative features touchless in-store appointments and drive-thru vaccinations at community Flu Shot Centers nationwide. Customers can easily book appointments online, and Kroger Health offers on-site flu shot services for organizations. With over 2,200 pharmacies and clinics across 35 states, the program aims to alleviate pressure on healthcare facilities and promote public health.
The Kroger Co. (NYSE: KR) will hold its second quarter 2020 earnings conference call on September 11, 2020, at 10:00 a.m. ET. Management will provide insights into the company’s financial and operational results for the quarter ended on August 15, 2020. The call will be available online at ir.kroger.com, with a replay accessible later in the day.
Kroger aims to create #ZeroHungerZeroWaste communities by 2025, focusing on a seamless shopping experience for over 11 million daily customers.
Wyndham Rewards has partnered with Home Chef, enabling members in the U.S. to earn 2,500 points on their first meal kit order and 500 points on subsequent orders. This collaboration aims to enhance member engagement by allowing points accumulation even when not traveling. Wyndham Rewards has 84 million members and offers numerous opportunities to earn points through everyday purchases. Members can enjoy meals starting at $6.99 per serving. This initiative reflects Wyndham's commitment to providing valuable rewards for its members.
Kroger Health has launched a new interactive prescription drug safety course aimed at educating adults on the responsible use of medications. This initiative, developed in collaboration with EVERFI, provides essential information regarding the dangers of prescription drug misuse, which the CDC identifies as a significant public health issue, citing over 67,000 opioid-related deaths in 2018. The free wellness resource includes 10 interactive learning modules and is designed to help users understand safe disposal methods and support those struggling with opioid misuse.
Kroger Health has expanded its COVID-19 testing services to over 220 clinic locations, available by appointment for both symptomatic and asymptomatic patients. This initiative comes alongside the COVIDCare Plus testing program, ensuring increased access to testing amid the impending flu season. The clinics can accommodate up to 5,000 tests daily. Kroger Health has conducted over 150,000 COVID-19 tests since April, emphasizing the importance of testing as flu season approaches due to overlapping symptoms. Additional safety measures have been implemented at clinics to protect patients and staff.
The Kroger Co. (NYSE: KR) released its 2020 Environmental, Social and Governance (ESG) Report on August 17, highlighting progress in sustainability goals. The report emphasizes commitment to a hunger-free community and waste reduction. Key metrics include a 4% reduction in food waste and an 18% improvement in waste diversion since 2017. Kroger aims for zero food waste by 2025 and has invested over $830 million in associate safety amid COVID-19. The corporation also detailed new sustainability commitments, including a 30% reduction in greenhouse gas emissions by 2030.
Kroger (NYSE: KR) has announced an expansion of its Kroger Ship platform to include a ship-to-home marketplace featuring third-party sellers, facilitated by Mirakl. This initiative is part of Kroger's strategy to enhance its e-commerce services, responding to increased demand during the COVID-19 pandemic. Over 50,000 additional items will be available across various categories, improving product accessibility for customers. This market integration aims to leverage customer insights and broaden product offerings, further establishing Kroger's digital marketplace ahead of its fall launch.
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