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.
Kroger (NYSE: KR) reported solid Q2 2024 results, with identical sales without fuel increasing 1.2%. The company achieved operating profit of $815 million and EPS of $0.64. Adjusted FIFO operating profit was $984 million, with adjusted EPS at $0.93. Kroger grew digital sales by 11% and increased total households, customer visits, and loyal households. The company updated its full-year identical sales without fuel guidance to 0.75% - 1.75%. Kroger reaffirmed its adjusted FIFO operating profit guidance of $4.6 - $4.8 billion and adjusted EPS guidance of $4.30 - $4.50. The company remains confident in its pending merger with Albertsons, citing potential benefits such as lower prices and expanded access to fresh, affordable food.
Kroger (NYSE:KR) has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes from September 13, 2024, to September 17, 2024. The exchange offers involve up to $7,441,608,000 aggregate principal amount of new Kroger notes and cash. As of September 11, 2024, significant portions of various ACI note series have been tendered, with many exceeding 90% participation. The exchange offers and consent solicitations are conditional upon the closing of Kroger's merger with ACI, expected in Q4 2024. Settlement is anticipated shortly after the expiration date and merger closing. The exchange offers remain subject to certain conditions and are only available to qualified institutional buyers or non-U.S. persons outside the United States.
The Kroger Co. and Procter & Gamble have launched the third year of their Game Changers program in conjunction with the LPGA's Kroger Queen City Championship. This initiative aims to advance women in sports, business, and education. Key highlights include:
- Over 400 women supported since the program's inception
- Nearly $100,000 awarded in scholarships
- 260+ graduates from the leadership program, with 25% of corporate participants earning promotions
- 23 female students to receive $2,000 scholarships in 2024
- The LPGA tournament will run from September 19-22 at TPC River's Bend
The event will feature various fan activations and amenities sponsored by P&G brands, including a Pampers Family Center, Gillette Venus Junior Day, and multiple brand-sponsored areas in the Fan Zone.
Kroger (NYSE: KR) announces the return of its Private Selection® Harvest Apple collection, featuring -edition fall-themed products available in stores starting September 8, 2024. The lineup includes customer favorites and new additions like Spiced Apple Cider and Caramel Apple Popcorn. The collection showcases autumn flavors such as cinnamon, clove, and caramel across various products including beverages, snacks, and baked goods.
Kroger aims to enhance the fall experience for customers with these exclusive offerings, available only in-store while supplies last. The company also provides Harvest Apple recipes and encourages customers to explore savings through digital coupons and the Boost by Kroger Plus membership program.
Kroger Health, the healthcare division of The Kroger Co. (NYSE: KR), has announced a new incentive program to encourage customers to get vaccinated before peak flu season. Customers can receive a $5 off coupon for getting a flu vaccine and a $20 off coupon when receiving a flu vaccine along with any additional vaccine during the same visit. The offer is valid for certain individuals under 65 at participating Kroger Family of Pharmacies or The Little Clinic locations, excluding Arkansas and Alabama.
Colleen Lindholz, president of Kroger Health, emphasized the importance of vaccines in protecting customers and contributing to healthy communities. The promotion aims to motivate people to take the important step of getting vaccinated this season. Customers must mention the offer at the time of vaccination to obtain the savings, which will be loaded onto loyalty cards or provided as paper coupons.
Kroger (NYSE: KR) has announced its upcoming second quarter 2024 earnings conference call, scheduled for Thursday, September 12, 2024, at 10:00 a.m. ET. During this call, Kroger's management team will provide insights into the company's financial and operational performance for Q2 2024.
Investors and interested parties can access the live broadcast of the presentation online at ir.kroger.com by clicking on the 'Quarterly Results' section. For those unable to attend the live event, an on-demand replay of the webcast will be made available at approximately 1:00 p.m. ET on the same day.
This announcement highlights Kroger's commitment to transparency and shareholder communication, providing a platform for investors to gain valuable insights into the company's recent performance and future outlook.
Kroger (NYSE:KR) announced the results of early participation in its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes. As of August 28, 2024, $6,819,427,000 aggregate principal amount of ACI Notes have been validly tendered, representing approximately 91.64% of the total aggregate ACI Notes outstanding. Kroger has received the requisite consents for several series of ACI Notes to adopt proposed amendments to their governing indentures.
Kroger is waiving the condition requiring requisite consents for each series and plans to accept all validly tendered ACI Notes. The company has amended the exchange consideration to $1,000 principal amount of Kroger Notes for each $1,000 principal amount of ACI Notes tendered. The exchange offers will expire on September 13, 2024, unless extended or terminated earlier.
Kroger Health, the healthcare division of The Kroger Co. (NYSE: KR), is emphasizing the importance of flu, COVID-19, and RSV vaccines to protect community health. These vaccines are available at all Kroger Family of Pharmacies and The Little Clinic locations. The CDC recommends updated flu and COVID-19 vaccines for everyone 6 months and older, while the RSV vaccine is recommended for adults 75 and older or those 60-74 with chronic illnesses.
Colleen Lindholz, president of Kroger Health, stressed the critical role of vaccines in disease prevention and public health maintenance. Dr. Marc Watkins, chief medical officer, highlighted the convenience of getting vaccinated at Kroger stores, allowing customers to combine grocery shopping with vaccination. Most patients can receive these vaccines at no charge with insurance, either through walk-in visits or by appointment.
Kroger (NYSE: KR) has announced the launch of Vanderpump Blooms x Bloom Haus™, a floral collection curated by Lisa Vanderpump, available exclusively at Kroger Family of Stores starting September 4, 2024. The collection features bouquets and readymade floral arrangements in custom vases, designed to bring Vanderpump's elegant aesthetic to homes.
The seasonal product line includes various themed bouquets such as Perfectly Peach, Royal Garden, Signature Pink, Villa Blanca, Crimson Romance, Autumn Extravagance, Violet Elegance, and Pandora Pink. Customers can purchase pre-arranged flowers in vases or follow video tutorials by Lisa Vanderpump to style the bouquets themselves.
The collaboration aims to enhance Kroger's Bloom Haus™ brand with Vanderpump's signature style, offering customers an easy way to achieve a luxurious floral aesthetic at home.
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.
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