Kroger Stock Price, News & Analysis

The Kroger Atlanta division and UFCW Local 1996 members have ratified new labor agreements, effective July 7 and 8, which will invest over $300 million in wage increases over four years. This follows Kroger's national investment of $800 million in wage increases in the past three years. The agreements cover 22,000 associates across 170 stores in Greater Atlanta and Savannah, offering significant pay increases, affordable healthcare, and pension support. Kroger aims to foster talent development and career opportunities for its associates.

The Kroger Co. (NYSE: KR) has partnered with KNAPP to enhance its Great Lakes Distribution Center in Delaware, Ohio. The renovation, expected to be completed this summer, will expand the facility by 130,000 square feet and incorporate advanced automation technology. This upgrade aims to improve efficiency in replenishing stores and more than double the center's capacity. According to Kroger's VP, this initiative is a critical part of their supply chain transformation, ensuring they meet growing customer demand more effectively.

The Kroger Co. (NYSE: KR) announced a dividend increase from 72 to 84 cents per year, marking a 17% uplift. The next quarterly dividend of 21 cents per share is set for September 1, 2021, payable to shareholders on record by August 13. This increase reflects Kroger's confidence in sustained free cash flow and strong performance, continuing its trend of annual increases for 15 consecutive years.

Kroger aims to maintain this growth over time through effective capital allocation strategies.

The Kroger Co. (NYSE: KR) and Inclusion Companies LLC will host The Wellness Experience, a wellness festival co-founded by Jewel, on August 20-21, 2021, in Cincinnati, OH. The festival includes live music, workouts, and cooking demonstrations, emphasizing overall health in light of recent events. The event aims to inspire healthy living and is free to attend, with activities like the Food As Medicine Expo and a donation drive for Freestore Foodbank. It reflects Kroger's commitment to community health and wellness.

Kroger Co. (NYSE: KR) reported its Q1 2021 results, showing total sales of $41.3 billion, a slight decline from last year. Key metrics include a 4.1% drop in identical sales and an EPS of $0.18, down from $1.52 YoY. Despite challenges, Kroger's digital sales grew significantly, up triple digits since 2019. The company announced a $1 billion share repurchase program and raised its full-year guidance for identical sales growth to 10.1%-11.6%. Notably, Kroger's gross margin rate decreased by 65 basis points due to higher shrink and price investments, affecting overall profitability.

The Kroger Co. (NYSE: KR) will hold its annual meeting of shareholders virtually on June 24, 2021, at 11 a.m. ET. Shareholders can participate from anywhere with internet access, allowing them to listen, vote, and submit questions. The meeting will be broadcast online at www.virtualshareholdermeeting.com/KR2021. An on-demand replay will be available approximately 24 hours post-meeting on Kroger's investor relations site.

Kroger is committed to its mission of feeding the human spirit and aims for #ZeroHungerZeroWaste communities by 2025.

The Kroger Co. has launched its Customer Fulfillment Center (CFC) in Groveland, Florida, marking its entry into the Florida market. This innovative e-commerce delivery service, powered by Ocado Group, utilizes advanced technology such as robotics and machine learning to enhance grocery delivery efficiency. The CFC, spanning 375,000 square feet, can fulfill thousands of orders daily. Kroger aims to offer a broad selection of fresh groceries and unique rewards programs, creating hundreds of jobs in the region while expanding its e-commerce capabilities in Florida.

Home Chef, a leading meal kit service, announced key leadership changes on June 8, 2021, aimed at enhancing growth and innovation. Erik Jensen will transition to President, reporting to CEO Pat Vihtelic, who emphasizes long-term strategies aligned with Kroger's e-commerce goals. Latasha Kempadoo joins as Chief People Officer, while David McCoy rises to Vice President of Finance. Home Chef has seen remarkable growth, with brand sales surging 118% in 2020 due to a shift towards online food orders, further solidifying its position as a significant player in the meal kit market.