Kroger Stock Price, News & Analysis

Kroger Health, part of The Kroger Co. (NYSE: KR), is initiating the #CommunityImmunity giveaway campaign to motivate Americans to receive COVID-19 vaccinations. Beginning next week, the campaign will feature prizes totaling $5 million, including five $1 million payouts and 50 annual grocery giveaways. This initiative follows a collaboration with the Biden Administration aimed at achieving a 70% vaccination rate among U.S. adults by July 10. Kroger Health has already administered over 4.6 million vaccines, continuing to expand its vaccination efforts to support public health.

Kroger's Cincinnati-Dayton division and UFCW Local 75 members have ratified a new five-year labor agreement, investing $159 million in wages. This agreement will raise hourly pay by $4.78 during the contract term, with the average wage reaching nearly $20 per hour, excluding benefits. Kroger has committed over $800 million to wage increases over three years. The contract, covering 20,000 members across 104 stores, enhances job security, wages, and affordable healthcare, reflecting a collaborative effort between the company and the union.

The Kroger Co. (NYSE: KR) has successfully finalized an agreement with local unions regarding the transfer of pension liabilities to the UFCW Consolidated Pension Plan. This initiative secures the benefits of over 10,600 associates and minimizes market risk exposure while reducing administrative expenses. Kroger plans to transfer approximately $400 million in net accrued pension liabilities, with an estimated after-tax cost of $310 million. The financial implications include a projected charge of $0.40 per diluted share in Q1 2021, though this will not impact adjusted earnings.

The Kroger Co. (NYSE: KR) announced that CFO Gary Millerchip will speak at the virtual BMO 16th Annual Farm to Market Conference on May 19, 2021, at 8:00 a.m. ET. The presentation will be accessible via Kroger's investor relations website, where it will also be archived post-conference. Kroger aims to serve over nine million customers daily through its 2,800 retail stores and is committed to achieving #ZeroHungerZeroWaste communities by 2025.

The Kroger Co. (NYSE: KR) has launched the Go Fresh & Local Supplier Accelerator, inviting American growers and producers to apply for a partnership opportunity. Running from now until May 31, the program aims to discover new suppliers for Kroger's fresh departments. Fifteen finalists will be selected to present in August, competing for product placement, partnerships, and business coaching. Kroger aims to invest $10 billion in diverse suppliers by 2030, following a $4.1 billion investment in 2020, enhancing its commitment to providing fresh food to customers.

Kroger Health has launched Abbott's BinaxNOW™ COVID-19 Antigen Self Test, an over-the-counter rapid test for SARS-CoV-2, which has received FDA Emergency Use Authorization. The test offers results in just 15 minutes and can be used by individuals regardless of symptoms. Each kit includes two tests, facilitating better detection through serial testing.

Kroger Health continues its COVID-19 response efforts, having administered over 3.5 million vaccinations. The new at-home testing option aims to enhance diagnostic accessibility for Americans, supporting their return to normalcy.

The Kroger Co. (NYSE: KR) and Drone Express have initiated a pilot program for autonomous drone delivery aimed at enhancing Kroger's e-commerce capabilities. This innovation follows Kroger's impressive $10 billion e-commerce sales in 2020. The drone delivery system allows customers to receive groceries at their current location, including parks and beaches, with orders fulfilled within 15 minutes. The pilot will start test flights in Centerville, Ohio, with customer deliveries expected this spring, alongside a second pilot planned for Ralphs in California during summer.