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The Kroger Co. - KR STOCK NEWS

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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The Kroger Co. (NYSE: KR) announced that its virtual annual meeting of shareholders will take place on June 25, 2020, at 11 a.m. ET. Shareholders can participate remotely, enabling them to listen, vote, and submit questions via the internet. The meeting will be streamed live on www.virtualshareholdermeeting.com/KR2020. An on-demand replay will be accessible on the Kroger investor relations website about 24 hours after the meeting.

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FAQ

What is the current stock price of The Kroger Co. (KR)?

The current stock price of The Kroger Co. (KR) is $60.96 as of December 23, 2024.

What is the market cap of The Kroger Co. (KR)?

The market cap of The Kroger Co. (KR) is approximately 44.1B.

What services does The Kroger Co. provide?

Kroger operates over 2,425 supermarkets, 789 convenience stores, 337 fine jewelry stores, and 1,109 fuel centers. It also provides healthcare services through 'The Little Clinic' and pharmacies at 80% of its locations.

How is Kroger involved in community support?

Kroger supports hunger relief, breast cancer awareness, military families, and over 30,000 schools and grassroots organizations. It contributes food and funds equivalent to 160 million meals annually through partnerships with over 80 Feeding America food banks.

What are some of Kroger’s recent expansions?

Recent expansions include the launch of MCoBeauty in the U.S., the sale of its specialty pharmacy business to CarelonRx, and the introduction of SDS for HD, a home décor collection.

What financial achievements has Kroger made recently?

In fiscal 2023, Kroger achieved $150.0 billion in total sales, with significant improvements in gross margin rates and strategic investments in wages and benefits for associates.

What is the significance of the Kroger-Albertsons merger?

The merger aims to expand market reach, bring more choices and lower prices to consumers, and secure the long-term future of unionized grocery jobs. It includes a comprehensive divestiture package to address regulatory concerns.

How does Kroger ensure sustainable growth?

Kroger's growth strategy includes 'Leading with Fresh' and 'Accelerating with Digital,' investing in a seamless shopping experience, digital innovation, and associate welfare to create a sustainable growth model.

What role do private-label products play in Kroger's business?

Private-label products account for over one-fourth of Kroger’s food sales, with about 30% of these products manufactured in-house across its 33 food production plants.

How does Kroger utilize technology and digital platforms?

Kroger invests heavily in digital innovation, offering a seamless shopping experience through its online platforms, digital coupons, and 'Boost by Kroger Plus,' which provides exclusive savings and delivery options.

What are Kroger's key financial strategies?

Kroger focuses on generating strong free cash flow, maintaining investment-grade debt, paying quarterly dividends, and investing in the business for sustainable earnings growth. The company has paused share repurchases to prioritize de-leveraging post-merger.

How can I stay updated on Kroger's latest news and updates?

Visit Kroger’s newsroom and investor relations site for the latest updates on financial performance, growth strategies, and community initiatives.

The Kroger Co.

NYSE:KR

KR Rankings

KR Stock Data

44.10B
667.59M
7.65%
75.49%
1.14%
Grocery Stores
Retail-grocery Stores
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United States of America
CINCINNATI