Kroger Stock Price, News & Analysis

Kroger Co. (NYSE: KR) has released its 2022 Food Trends Report, forecasting key food trends, consumer preferences, and popular items for the year. The report highlights the rise of at-home meal preparation driven by affordability, convenience, and sustainability. Key trends include a focus on umami flavors, plant-based foods, and nostalgic comfort meals. Kroger aims to innovate and adapt its offerings based on these insights and will introduce new products to enhance home dining experiences.

The Kroger Co. (NYSE: KR) and Nuro have expanded their collaboration to enhance grocery delivery via autonomous vehicles. This partnership, initially launched in 2018, will utilize Nuro's third-generation autonomous delivery vehicle, aiming to improve customer convenience in Houston. Kroger emphasizes its commitment to providing fresh food at great value while supporting sustainability through the use of all-electric vehicles. This initiative aligns with Kroger's Zero Hunger | Zero Waste plan and its long-term growth strategy.

King Soopers and City Market criticized UFCW Local 7's strike decision, labeling it reckless and self-serving. President Joe Kelley emphasized that the strike undermines negotiations and prevents associates from benefiting from a substantial investment. The stores will remain operational to ensure essential services to the community. More details on their final offer are accessible through their official channels. King Soopers operates with a focus on community support and aims to achieve Zero Hunger Zero Waste by 2025, serving around 22,500 associates in Colorado.

The Kroger Co. (NYSE: KR) released a report highlighting its compensation of nearly 85,000 hourly associates in California, Colorado, Oregon, and Washington. The analysis, conducted by ndp | analytics, reveals that Kroger pays an average of $18.27 per hour, plus $5.61 for benefits, totaling $23.89. This is higher than industry peers. Additionally, the report emphasizes Kroger's positive impact on local economies, supporting 127,374 jobs and contributing $4.7 billion in wages. Kroger challenges a misleading report from Economic Roundtable and UFCW regarding its compensation practices.

King Soopers/City Market has proposed a $170 million investment over three years to UFCW Local 7, focusing on wage increases and healthcare benefits for associates. The plan includes wage hikes of up to $4.50 per hour, starting pay of $16, and ratification bonuses of up to $4,000 based on service length. Healthcare premiums for associates have remained stable for 12 years and will not increase through 2025 if the agreement is accepted. This initiative aims to provide financial stability for associates amidst ongoing uncertainties.

Home Chef has announced that Erik Jensen will become the new Chief Executive Officer effective February 1, 2022, succeeding Pat Vihtelic, the founder who will remain on the advisory board. Since its inception in 2013 and acquisition by Kroger in 2018, Home Chef has achieved over $1 billion in annual sales as of October 2021. Jensen, who has been with Home Chef since 2016, aims to drive growth and innovation in the meal solutions market.

King Soopers and City Market have charged UFCW Local 7 with unfair labor practices due to their refusal to negotiate in good faith. Local 7 has also rejected mediation efforts aimed at resolving the dispute. The company's leadership emphasizes a commitment to improving associate compensation and benefits while maintaining affordable essentials for the community. King Soopers/City Market urges Local 7 to allow associates to vote on current proposals, stressing that associates are currently working without a contract amid potential strike threats.

Kroger Health has achieved a significant milestone by administering its 10 millionth COVID-19 vaccine dose as of January 10, 2022. This achievement comes amid the rise of the Omicron variant, highlighting Kroger's commitment to combating the pandemic. The company has partnered with government initiatives to enhance vaccine access and testing, including a $5 million Community Immunity Giveaway. It continues to offer both initial vaccinations and booster shots in alignment with CDC guidelines, demonstrating a robust response to public health needs.