Kroger Stock Price, News & Analysis

Ralphs Grocery Company is actively hiring for various positions in retail, supply chain, and manufacturing, with events commencing on March 13, 2023. Interested candidates can attend weekly hiring events every Tuesday from 4:00 PM to 7:00 PM until May 13, 2023, at in-store locations. Virtual sessions are also available on April 4 and May 2, 2023, from 1:00 PM to 4:00 PM EST. Prospective associates should apply online beforehand and can expect resources like comprehensive wage packages, tuition reimbursement, training, and health benefits. Ralphs, a subsidiary of Kroger (NYSE:KR), operates 184 supermarkets in Southern California.

The Postal Prescription Service (PPS) disclosed an internal error on January 10, 2023, where patient names and email addresses were improperly shared with an affiliated grocery business, The Kroger Co. (KR). The data breach affected individuals who created an online PPS account between July 2014 and January 13, 2023. Importantly, no financial or clinical data was disclosed. Kroger is reviewing its procedures to prevent future incidents. Affected individuals have been notified, and customers are encouraged to monitor their accounts for suspicious activity.

The Kroger Co. (NYSE: KR) has announced a quarterly dividend of 26 cents per share, payable on June 1, 2023, to shareholders on record by May 15, 2023. This dividend reflects a consistent growth trend, achieving a double-digit compounded annual growth rate since its reinstatement in 2006. Kroger aims to continue increasing dividends over time, underscoring its commitment to returning capital to shareholders while investing in long-term earnings growth. The company balances its free cash flow efficiently, maintaining an investment-grade debt rating amidst various market challenges.

Home Chef, a leading meal solutions brand, will establish its fourth production facility in Baltimore, Maryland, this summer, creating over 500 jobs by 2024. This new 170,000-square-foot center is Home Chef's first site on the East Coast and will enhance efficiency significantly, handling over 30% of nationwide meal solutions. The facility aims to provide fresher ingredients and a wider variety of meal options to East Coast customers. Collaborations with local development organizations have facilitated this project, emphasizing Maryland's strategic location for manufacturing and logistics.

Kroger (NYSE: KR) announced an investment of over $770 million in 2023 to enhance associate wages and benefits. This initiative will raise average hourly rates and improve healthcare and training opportunities. Since 2018, Kroger has invested $1.9 billion towards wages and benefits, increasing average hourly rates to $18 to $23.50 per hour. The investment includes educational benefits of up to $21,000, accessible healthcare, free financial coaching, and a streamlined onboarding process. The company emphasizes that investing in its associates promotes overall well-being, benefiting both employees and customers.

The Kroger Co. (NYSE: KR) reported strong fourth quarter and fiscal 2022 results, with identical sales without fuel increasing by 6.2% in Q4 and 5.6% for the fiscal year. Operating profit for Q4 reached $826 million, while adjusted EPS rose to $0.99. For 2022, total company sales hit $148.3 billion, with a 15% growth in adjusted EPS to $4.23. Notably, Kroger has committed over $1.9 billion in incremental wages since 2018 and expects to maintain its quarterly dividend. However, the termination of its agreement with Express Scripts impacted pharmacy sales. Looking ahead, the company projects identical sales growth of 1-2% for 2023.

The Teamsters Warehouse Division has held meetings regarding Kroger's proposed acquisition of Albertsons, announced in October 2022. Over 20,000 Teamsters at Kroger and Albertsons are affected by this merger. The union has expressed concerns about job security, automation, and potential divestitures needed for regulatory approval, emphasizing that collaboration with organized labor is crucial for success. Director Tom Erickson highlighted the union's commitment to ensuring that both current and future members benefit from the merger outcomes.

The 2023 Daytona 500 Champion, Ricky Stenhouse Jr, will appear at Ralphs grocery store in Fontana, California, on February 24 for a meet and greet with fans ahead of the Pala Casino 400 race. Stenhouse Jr, driving the No. 47 Ralphs/Tree Top Camaro, will sign autographs and participate in various activities. Ralphs will also offer health screenings and vaccinations during the event. The race takes place on February 26, with live coverage starting at 3:30 PM on FOX. Ralphs, a subsidiary of Kroger (NYSE:KR), emphasizes community support through its Zero Hunger | Zero Waste initiative.

The Kroger Co. (NYSE: KR) will host its fourth quarter 2022 earnings conference call on March 2, 2023, at 10:00 a.m. ET. This call will provide insights into the financial and operational results for both the fourth quarter and the full year of 2022. The event can be accessed online, and a replay will be available on the same day after 1:00 p.m. ET. Kroger's fourth quarter ended on January 28, 2023, and the company emphasizes its commitment to feeding the human spirit and building sustainable communities.