Welcome to our dedicated page for Kroger news (Ticker: KR), a resource for investors and traders seeking the latest updates and insights on Kroger 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) 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.
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.
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