Kroger Stock Price, News & Analysis

The Kroger Co. (NYSE: KR) reported its Q2 2021 results, revealing total sales of $31.7 billion, up from $30.5 billion year-over-year. However, identical sales, excluding fuel, fell 0.4%. Adjusted EPS increased to $0.80 from $0.73. Operating profit rose to $839 million, with a FIFO gross margin rate of 21.4% despite a 60 basis point decrease from last year. Kroger raised its full-year guidance, projecting adjusted EPS between $3.25 and $3.35. The company also declared a 17% dividend increase, marking 15 consecutive years of increases, and has repurchased $349 million in shares this quarter.

The Kroger Co. (NYSE: KR) has published its 2021 Environmental, Social and Governance (ESG) report, outlining a new long-term ESG strategy focused on enhancing food systems and community support. Key achievements include directing over $301 million to hunger relief and administering millions of COVID-19 vaccines. The report emphasizes goals across three pillars: People, Planet, and Systems, with aims to direct 3 billion meals to communities by 2025 and significantly reduce emissions.

The Kroger Co. (NYSE: KR) announced the winners of its first Go Fresh & Local Supplier Accelerator program, aimed at promoting innovative local products. Among the five winners are Maazah, Nona Lim, Queen Charlotte's Pimento Cheese Royale, Simply Southern Sides, and Soupergirl. Kroger's initiative received over 1,000 applications and seeks to diversify its product offerings by partnering with local suppliers. The company plans to bring these products to market by Q1 2022 and aims to increase its investment in diverse suppliers from $4.1 billion to $10 billion by 2030.

Kroger Health, a division of The Kroger Co. (NYSE: KR), has partnered with Lyft Healthcare to offer discounted rides to COVID-19 vaccine appointments. This initiative is part of Lyft's Vaccine Access Program aimed at increasing vaccine accessibility across the U.S., especially for those with transportation challenges. Individuals can receive a $12 Lyft ride code when scheduling an appointment at Kroger Family of Pharmacies or The Little Clinic. Kroger Health has administered over 6 million vaccine doses and continues to focus on improving vaccine equity amid rising COVID-19 cases.

The Kroger Co. (NYSE: KR) has partnered with Kitchen United to offer customers on-demand meal services from popular restaurants. This collaboration features ghost kitchens at select Kroger locations, enabling customers to order from multiple restaurants simultaneously. The first kitchen is set to open at a Ralphs store in Los Angeles this fall, with further expansions planned. This initiative aims to enhance Kroger's service offerings, allowing customers to conveniently order meals while grocery shopping.

The Kroger Co. (NYSE: KR) has elected Elaine Chao to its board of directors, effective immediately. Chao's extensive experience includes serving as U.S. Secretary of Labor and U.S. Secretary of Transportation, along with roles in numerous Fortune 500 companies. Her election is part of Kroger's strategy to enhance corporate governance and bring diverse perspectives to the board. Chao will serve until the annual meeting of shareholders in June 2022, at which point she will stand for re-election.

Kroger's Central Division has ratified new labor agreements with UFCW Local 536, benefiting over 1,100 associates in central Illinois. The agreements, which last three years, include a substantial investment of $11.3 million in wage increases. Associates will receive enhanced pay, affordable health care, and ongoing contributions to pension funds. Colleen Juergensen, president of Kroger's Central Division, expressed satisfaction with the outcome, highlighting the collaborative efforts of both bargaining committees. The contracts cover retail and meat clerks across 13 stores in cities like Peoria and Bloomington.

The Kroger Co. (NYSE: KR) has partnered with Inclusion Companies LLC and co-founder Jewel to present The Wellness Experience in Cincinnati, OH, on August 20-21, 2021. This free festival aims to promote health and wellness, featuring over 100 interactive experiences across health, nutrition, activity, and inspiration. Notable participants include NASCAR driver Kyle Busch and wellness advocates like Tabitha Brown. Kroger Health, with 2,200 pharmacies serving over 14 million customers, emphasizes 'food as medicine' and mental well-being during this event, which offers valuable resources for healthier living.

The Kroger Co. (NYSE: KR) has appointed Rob Quast as the new Head of Investor Relations, effective immediately. Quast, who joined Kroger in 2013, previously served as director of insurance and claims, overseeing the company's global insurance strategy. He brings extensive financial expertise and leadership skills. Quast takes over from Rebekah Manis, who will lead Kroger's expansion into new geographies, including its recent entry into Florida. Kroger's CFO, Gary Millerchip, expressed confidence in Quast's ability to enhance shareholder engagement and communicate the company's growth strategy.