Kroger Stock Price, News & Analysis

Kroger (NYSE: KR) has terminated its merger agreement with Albertsons following a U.S. District Court's preliminary injunction. In response, the company announced a new $7.5 billion share repurchase program, including a $5 billion accelerated share repurchase. The company will also redeem $4.7 billion in senior notes issued in August 2024.

Kroger emphasizes its commitment to investing in America through lower grocery prices, wage increases, and community support. The company highlights its track record of investing $5 billion in lower prices since 2003 and $2.4 billion in wage increases since 2018. Kroger plans to host an Investor Day in late spring 2025 to share strategic priorities and long-term financial outlook.

Kroger (NYSE: KR) has issued a statement responding to Albertsons' lawsuit, strongly refuting all allegations as baseless and without merit. The company asserts that Albertsons committed multiple material breaches and interference during the merger process. Kroger views the lawsuit as an attempt by Albertsons to deflect responsibility and wrongfully seek the merger's break fee.

Kroger maintains it made extraordinary efforts to uphold the merger agreement throughout the regulatory process and plans to defend its position in court. The company's Board of Directors is currently evaluating next steps to create value for shareholders while serving customers' and associates' interests.

Albertsons (NYSE: ACI) has filed a lawsuit against Kroger (NYSE: KR) in Delaware Court of Chancery for breach of merger agreement. The lawsuit alleges Kroger willfully breached the contract by refusing to provide adequate divestiture packages and ignoring regulators' concerns, leading to the merger being blocked by courts in Oregon and Washington.

Albertsons is seeking billions in damages to compensate for denied share premium, decreased shareholder value, and resources invested in the failed merger. The company has terminated the merger agreement, which entitles them to an immediate $600 million termination fee and removes constraints on pursuing other strategic opportunities.

Home Chef, the leading meal delivery service, has revealed six major home cooking trends for 2025 based on customer insights and industry expertise. The trends include: low-effort, high-reward meals; increased focus on value amid rising food costs; conscious comfort foods that balance wellness with familiar flavors; demand for protein-packed and fiber-filled options; expanded seafood variety beyond traditional choices; and growing interest in diverse global spicy condiments.

The company's 2024 review highlights include creating over 1,500 new recipes, launching 8 culinary partnerships, and adding hundreds of new ingredients to their pantry. Their most popular new addition was Shrimp Étouffée, while the Swiss-Crusted Chicken with Chocolate Lava Cake was the most-ordered recipe-dessert combination.

Kroger (NYSE: KR) has been named to Foundry's Computerworld 2025 Best Places to Work in IT, ranking No. 50 among large organizations. This marks the company's seventh consecutive year on the list. The recognition highlights Kroger's commitment to creating an innovative workplace culture that empowers technology professionals.

The ranking is based on comprehensive evaluations of company benefits, career development, DEI initiatives, future of work strategies, and training programs. According to Yael Cosset, Kroger's SVP & CIO, the company focuses on delivering seamless digital experiences through advanced technology, data-driven insights, and data science.

The recognition comes at a time when the industry faces increasing demand for skills in AI, data analytics, and cloud computing. Kroger emphasizes building a culture where associates can learn, grow, and contribute unique ideas to address industry challenges.

The Kroger Co. (NYSE:KR) has unveiled a holiday gift guide featuring customer-favorite cheeses and recipes from Murray's Cheese. This guide includes options for creating custom cheeseboards, unique cave-aged cheeses, and family-friendly recipes. Customers can shop at Kroger stores nationwide or use Kroger Pickup and Delivery services. Highlights include:

• Entertainer's Delight: Custom cheeseboards with Brie, English Cheddar, and Gouda.
• Connoisseur's Choice: Cave Aged Reserve Mini Greensward and other award-winning cheeses.
• Sweet Tooth Satisfaction: Pairing cheeses with chocolates and caramels.
• Family Fun: Recipes like Murray's Classic Mac & Cheese and Mascarpone Cupcakes.
• Cheese Clubs: Five monthly club experiences available for nationwide shipping.

Kroger offers additional savings through digital coupons and the Boost by Kroger Plus membership, which includes a free 30-day trial and potential savings of up to $1,000 per year. Eligible Kroger cardholders can also redeem a free one-year Boost membership.

Kroger has extended the expiration date of its exchange offers for Albertsons Companies notes from December 9 to December 13, 2024. The exchange offers cover up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur promptly after the expiration date and the closing of the merger, which is anticipated during Q4 2024.

As of August 29, 2024, the required consents were received for the Consented Series, with supplemental indentures executed. The proposed amendments will become operative upon settlement. Tenders can be withdrawn before the expiration date, and the exchange offers remain conditional upon the merger closing.

Kroger (NYSE: KR) reported Q3 2024 results with identical sales without fuel increasing 2.3%. The company achieved operating profit of $828 million, EPS of $0.84, and adjusted EPS of $0.98. Total sales were $33.6 billion, down from $34.0 billion last year due to the sale of Kroger Specialty Pharmacy and lower fuel prices. Digital sales grew 11%, with delivery sales up 18%.

The company closed the sale of its specialty pharmacy business for $464 million, which reduced Q3 sales by $340 million. FIFO gross margin rate excluding fuel increased 51 basis points. Kroger narrowed its full-year 2024 guidance, projecting identical sales without fuel of 1.20%-1.50% and adjusted EPS of $4.35-$4.45.

Kroger announces its '12 Merry Days of Deals' event running from December 4-15, offering daily digital deals redeemable through December 17. Customers can clip one new digital offer each day via Kroger.com or the Kroger app, with each deal redeemable up to five times in a single transaction. Boost by Kroger Plus members receive additional benefits including 2X fuel points and free delivery. Additionally, Kroger is offering a special National Cookie Day promotion through December 10, featuring free Bakery Fresh Hot Cocoa Cookies with purchase of 12-count Bakery Fresh Cookies.