Kroger Stock Price, News & Analysis

Kroger has extended the expiration date of its exchange offers for Albertsons Companies notes from November 26, 2024, to December 3, 2024. The exchange offers involve 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 after the expiration date and coincide with the merger closing, anticipated in Q4 2024. The required consents for certain series were received on August 29, 2024, with amendments to become operative upon settlement. The exchange offers remain conditional upon the merger completion and other conditions that may be waived by Kroger.

Kroger announced leadership changes as Stuart Aitken steps down from his position as senior vice president, chief merchandising and marketing officer, effective December 31, 2024. Mary Ellen Adcock, currently senior vice president of operations, will succeed him. Senior VPs Valarie Jabbar and Kenny Kimball, along with group VP Paula Kash, will continue leading operations and report directly to CEO Rodney McMullen. Aitken was credited for evolving Kroger's brand, overseeing dunnhumby's integration, and establishing 84.51º.

Kroger (NYSE: KR) has scheduled its third quarter 2024 earnings conference call for Thursday, December 5, 2024, at 10:00 a.m. ET. During the call, the management team will discuss the company's financial and operational performance for Q3 2024. The presentation will be available online at ir.kroger.com under the 'Quarterly Results' section. Investors can access an on-demand replay of the webcast starting at approximately 1:00 p.m. ET on the same day.

Kroger's senior vice president and chief people officer Tim Massa has been inducted as a fellow of the National Academy of Human Resources (NAHR). As chief people officer, Massa oversees all HR and labor relations areas, including total rewards, diversity, training and development, talent management, and corporate affairs. He joined Kroger in 2010 and serves on multiple boards, including the Society of Human Resources Management and North American Human Resources Policy Association. NAHR fellowship recognizes sustained achievements and contributions to organizations, the HR profession, and society.

Kroger has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies notes from November 20, 2024, to November 26, 2024. The exchange offers involve 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 between Kroger and Albertsons, which is anticipated during the fourth quarter of 2024. The required consents for certain series were received on August 29, 2024, with amendments to become operative upon settlement.

Kroger has revealed key Thanksgiving shopping trends based on customer surveys. Nearly 90% of surveyed households plan to celebrate Thanksgiving, with turkey (83%), stuffing (55%), and mashed potatoes (49%) ranking as top must-have items. Sales data shows dramatic increases in November for key items: stuffing (800%+), turkey and cranberry sauce (1000%+). While 43% plan to splurge on Thanksgiving shopping, 71% actively seek deals and savings. The retailer offers a Freshgiving basket feeding 10 people for under $4.85 per person, with over $800 in available Thanksgiving savings.

Kroger announces its 2024 Freshgiving meal offering, providing holiday staples at less than $4.85 per person, lower than last year's prices. The bundle feeds ten people and includes a frozen turkey at 49 cents per pound, along with traditional sides and desserts. Customers can access more than $800 in available savings through digital deals, BOGOs, and fuel points promotions. For convenience, Home Chef offers heat-and-eat meals starting at $75 for 4-6 people or $105 for 6-12 people. The company also provides comprehensive meal prep guidance and continues its commitment to fighting food insecurity through customer donations and its Zero Hunger | Zero Waste initiative.

Kroger has launched its 2024 holiday campaign featuring a heartwarming animated film titled 'The Case of the Disappearing Food.' The campaign, created by adam&eveDDB New York, tells the story of a young boy who shares his family's holiday food with a lonely neighbor, demonstrating how food can bring people together and express kindness.

The campaign includes a Hispanic market holiday ad called 'The Gift of Teaching' about a grandmother teaching her blind grandson a family tamale recipe. Additionally, Kroger is offering a 'Shop the Scene' experience on Hulu, allowing viewers to purchase ingredients inspired by National Lampoon's Christmas Vacation dinner scene through QR codes. The campaign will run through January 1 on Netflix, cable, streaming, and Internet platforms.

Kroger has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies notes from November 14 to November 20, 2024. The exchange offers involve up to $7.44 billion in aggregate principal amount of new Kroger notes and cash. The settlement is expected to occur after the expiration date and the closing of the merger, anticipated in Q4 2024. As of August 29, the required consents were received for the Consented Series, with supplemental indentures executed. The exchange offers remain conditional upon the merger closing, which cannot be waived by Kroger.