Welcome to our dedicated page for Kroger news (Ticker: KR), a resource for investors and traders seeking the latest updates and insights on Kroger stock.
The Kroger Co. operates a U.S. grocery retail business with supermarkets across multiple banners, complemented by fuel centers, pharmacies, private-label products, manufacturing, advertising and data analytics. News about KR commonly covers fresh food and seasonal merchandising, pickup and delivery services, digital coupons, private brands such as Simple Truth, Private Selection and Kroger brand products, and customer access through Kroger.com, the Kroger app and delivery marketplaces.
Company updates also include Harris Teeter, a wholly owned Kroger subsidiary, with recurring coverage of pharmacy services, nutrition support, grocery promotions, fuel rewards, community programs and associate initiatives. Other news themes include new products entering Kroger-banner stores, floral and gift offerings such as Bloom Haus, and enterprise training programs such as Pearl Street Academy.
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The Kroger Co. (NYSE: KR) announced that Carl Icahn intends to nominate two director candidates, Alexis C. Fox and Margarita Paláu-Hernández, for election at the 2022 Annual Meeting of Shareholders. The Board of Directors supports open communication with shareholders and prioritizes environmental, social, and governance (ESG) matters, particularly animal welfare. Kroger aims to eliminate the use of gestation crates in its pork supply chain by 2025 and has established a Responsible Sourcing Framework to uphold these commitments. Shareholders need not take action at this time.
The Kroger Co. (NYSE: KR) announced a quarterly dividend of 21 cents per share, payable on June 1, 2022, to shareholders on record as of May 13, 2022. This marks a continuation of their dividend growth, which has seen a double-digit compound annual growth rate since its reinstatement in 2006. The company aims to deliver sustainable total shareholder returns of 8% to 11% over time, focusing on using free cash flow for investments, maintaining investment-grade ratings, and returning capital to shareholders.
The Kroger Co. (NYSE: KR) announced its expansion of grocery delivery services at its 2022 Business Update. New spoke facilities are set to open in Austin and San Antonio, TX, and Birmingham, AL, enhancing its fulfillment capabilities in collaboration with Ocado Group (LSE: OCDO). Each facility will serve as a last-mile cross-dock location, with the Austin and San Antonio sites creating up to 161 jobs each. The expansion aims to double digital sales and profitability by the end of 2023, leveraging automation and strategic partnerships.
The Kroger Co. (NYSE: KR) recently held its 2022 Business Update in Orlando, detailing its strategy of Leading with Fresh and Accelerating with Digital. CEO Rodney McMullen highlighted robust financial results and ongoing investments in innovation and technology that support sustainable growth. Key themes included enhancing customer loyalty through competitive advantages, expanding its digital ecosystem into new regions, and maintaining a total shareholder return (TSR) target of 8-11%. The updates aim to foster long-term growth while committing to environmental and social governance initiatives.
The Kroger Co. reported strong fourth-quarter results for 2021, with identical sales without fuel rising by 4.0% and digital sales demonstrating impressive two-year growth of 105%. EPS reached $0.75, or $0.91 adjusted, alongside operating profits of $965 million. For fiscal 2021, total sales increased to $137.9 billion, and adjusted EPS stood at $3.68. Looking ahead, Kroger projects 2022 identical sales growth of 2.0% to 3.0% and adjusted EPS between $3.75 and $3.85. The company continues to invest in its workforce, raising average hourly wages significantly, while maintaining a positive outlook for total shareholder returns of 8-11%.
The Kroger Co. (NYSE: KR) announced the opening of a new Customer Fulfillment Center (CFC) in northeast Ohio, powered by Ocado Group (LSE: OCDO). This facility will leverage advanced technology, including robotics and machine learning, to enhance grocery delivery services. The CFC, covering 270,000 square feet, aims to create up to 400 new jobs and is part of Kroger's strategy to double its digital sales by the end of 2023. The site is expected to begin operations in 24 months, serving areas in Ohio and Pennsylvania.
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UserTesting (NYSE: USER) has partnered with Home Chef, a leading meal solutions brand and subsidiary of Kroger (NYSE: KR), to enhance customer experience through its Human Insight Platform. This collaboration will facilitate efficient gathering of customer insights, enabling Home Chef to improve service delivery and align offerings with consumer preferences. Home Chef delivers over 7 million meals monthly, providing a variety of meal solutions across 2,200 Kroger stores in the US. The partnership aims to drive growth and refine customer experiences through targeted feedback.
The Kroger Co. (NYSE: KR) has launched a new shopping initiative at 25 Fred Meyer stores in Portland, Oregon, in collaboration with Loop, a reuse platform by TerraCycle. Customers can now buy over 20 products in reusable packaging instead of single-use plastics, aligning with Kroger's sustainability goals. The project aims to promote environmental responsibility by allowing customers to return empty containers for reuse. This partnership marks Kroger as the first grocery retailer in the U.S. to offer this innovative shopping experience, emphasizing its commitment to sustainability and the circular economy.