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. Foundation has awarded $300,000 in scholarships to 120 children of Kroger associates for the 2024-2025 academic year. Each scholar receives $2,500 towards any accredited two- or four-year college, university, or vocational program. Launched in 2008, the Kroger Scholars Program has granted over $5 million in scholarship funds to date.
The 2024-2025 Kroger Scholars will attend more than 75 institutions nationwide. Selection criteria included volunteering, civic service, extra-curricular activities, academic performance, and work experience. Kroger also offers a tuition reimbursement program for its associates, contributing up to $21,000 for both part-time and full-time employees. Since 2018, the company has reimbursed over $50 million for continuing education.
Kroger (NYSE:KR) has priced a $10.5 billion public offering of senior notes with various maturities ranging from 2026 to 2064. The notes have interest rates between 4.600% and 5.650%. The expected settlement date is August 27, 2024. Kroger plans to use the net proceeds to fund a portion of the cash consideration for its proposed merger with Albertsons Companies, Inc. Some notes are subject to special mandatory redemption if the merger doesn't close. If the merger is not completed, proceeds from certain notes will be used for general corporate purposes. Citigroup Global Markets Inc. and Wells Fargo Securities, are acting as lead joint book-running managers for the offering.
Kroger has filed a motion for preliminary injunction against the Federal Trade Commission's (FTC) administrative proceeding challenging its merger with Albertson's. The company argues that the FTC's actions violate Constitutional protections in two key areas:
1. The Administrative Law Judge's lack of removability by the President violates Article II.
2. Adjudicating private rights through the Executive Branch rather than the Judicial Branch violates Article III.
Kroger contends that the FTC is inappropriately seeking multiple opportunities to litigate the same issues by splitting its challenge into two separate tribunals. The company remains prepared to defend the merger in the upcoming federal court trial, set to begin on August 26 in the District of Oregon.
Kroger Co. (NYSE:KR) has initiated private exchange offers for certain eligible holders of Albertsons Companies notes, aiming to exchange up to $7.44 billion in new Kroger notes and cash. The exchange is linked to the anticipated merger between Kroger and Albertsons, expected to close in Q4 2024.
The offers target multiple Albertsons-issued notes, including series due from 2026 to 2037. Kroger seeks consent to amend indentures governing these notes, removing restrictive covenants and certain default events, among other changes. Eligible holders who tender notes before the Early Participation Date will receive incentives, including a $1 consent payment and up to $1,000 in Kroger notes per $1,000 of Albertsons notes.
The exchange offers and consent solicitations will expire on September 13, 2024, with the settlement date expected soon after.
The Kroger Wellness Festival, presented by PepsiCo and P&G, is set to return on September 27 and 28, 2024, in Downtown Cincinnati. This free health and wellness event will feature over 200 experiences focused on six core pillars: balance, breathe, care, move, play, and uplift. Highlights include:
- Free concerts by Third Eye Blind and Jason Derulo
- Appearances by celebrities like Alex Rodriguez and Chrissy Teigen
- Fitness activities, cooking demos, and panel discussions
- Six stages sponsored by major brands
The festival aims to promote physical, mental, and emotional health for families in a new, larger location on Fifth Street.
Kroger (NYSE: KR) has announced its Smart Way™ product line, offering pantry staples for less than $3. This opening price point brand provides affordable options for essential kitchen items, including:
- Condiments, canned and dry goods starting at 99 cents
- Spices from $1.50
- Baked breads from $1.50
- Snacks and treats from $1.99
- Cold and frozen items from $2.29
Customers can access these products in-store or through Kroger Pickup and Delivery. Additional savings are available through digital coupons, the Boost by Kroger Plus membership, and the Kroger Family of Companies Rewards World Elite Mastercard®.
Home Chef, a leading meal solutions company, has partnered with the popular animated series PAW Patrol for a four-week collaboration aimed at making family dinnertime more exciting. Starting August 12, 2024, customers can order PAW Patrol-themed recipes that will change weekly until September 13. Each Family Menu meal will come in a special interactive box inspired by the PAW Patroller truck and include a surprise PAW Patrol toy.
The menu features character-inspired dishes like Chase's Cheesy Turkey Quesadilla and Marshall's Fire Roasted Tomato Tortellini. Home Chef is also hosting a giveaway for a PAW Patrol playhouse, kids' dishware set, and a year's worth of meals. New customers can use the code 'RESCUEDINNER' to receive 18 free meals. This collaboration aims to make mealtime more convenient, approachable, and fun for families with young children.
Vitacost.com, Kroger's e-commerce health and wellness retailer, is celebrating its 30-year anniversary and 10 years with Kroger by offering customer savings throughout the year. The company, known for providing affordable access to high-quality supplements, specialty foods, and eco-friendly products, is marking these milestones with several promotions:
- 30% discount on select brands every Thursday
- $30K Giveaway Sweepstakes with three $10,000 cash prizes
- 20% off first order for new email subscribers
Vitacost offers nearly 40,000 health and wellness products across various categories, including vitamins, beauty care, fitness, household essentials, and pet supplies. The company's commitment to providing affordable wellness products aligns with Kroger's strategy to offer customers convenient and tailored shopping options.
Kroger (NYSE: KR) has introduced Field & Vine™, a new fresh produce line in its Our Brands portfolio. The brand features locally grown berries from U.S. farmers in eight states, including blueberries, blackberries, raspberries, and strawberries. Field & Vine™ focuses on peak seasonality and optimal freshness, offering high-quality berries during the best U.S. growing seasons.
This -time, annual offering aims to provide customers with an enhanced fresh experience while supporting local growers. By sourcing locally, Kroger reduces transit time, ensuring better freshness and quality. Customers can purchase Field & Vine™ berries in-store or through Kroger Pickup and Delivery, with additional savings available through digital coupons and the Boost by Kroger Plus membership program.
Kroger Health, the healthcare division of The Kroger Co. (NYSE: KR), is promoting a comprehensive approach to back-to-school health. The company emphasizes the importance of vaccines, physical exams, and balanced nutrition for students' success. Dr. Marc Watkins, chief medical officer, highlights the role of vaccines in preventing infectious diseases and reducing school absences. Kroger Health provides a detailed list of recommended vaccines for different age groups, from kindergarten through high school.
The company offers wellness screenings, annual physicals, and preventive healthcare services through The Little Clinic. Additionally, Kroger Health focuses on the significance of healthy meals for students' energy and overall well-being. Laura Brown, director of nutrition, introduces their virtual dietitian services and the OptUP™ tool to help families make healthier food choices.
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