Kroger Stock Price, News & Analysis

Ralphs and Food 4 Less, subsidiaries of Kroger (NYSE: KR), announced the installation of a photovoltaic solar power array at their 300,000-square-foot bakery in La Habra, California. The system includes nearly 3,000 solar panels expected to generate approximately 1 Megawatt (AC) of clean energy, equivalent to powering 240 homes annually. This is Kroger's second solar project in Southern California, part of their initiative to explore renewable energy and improve sustainability. The bakery employs over 200 associates and supports 303 grocery stores in the area.

FirstService Residential has partnered with Home Chef to provide discount offers to residents and associates in the communities managed by FirstService Residential. This initiative is part of their Lifestyle@Home program, aimed at enhancing convenience and savings. Home Chef, a leading meal kit delivery service, delivers fresh ingredients and easy recipes to over 2,000 Kroger stores and directly to homes. This collaboration is expected to cater to the busy lifestyles of residents, offering them quick meal preparation options.

Kroger Co. (NYSE: KR) has appointed Dentsu Aegis Network as its first integrated media agency of record, following a competitive selection process. The fresh@dentsu team, led by 360i, will manage media planning and buying across various channels including TV, social media, and online video. This partnership aims to enhance Kroger's 'Fresh for Everyone' brand transformation campaign and improve customer engagement through a more holistic media strategy. Kroger continues to focus on creating a seamless shopping experience and advancing its purpose of feeding the human spirit.

Gravity Diagnostics has received an updated Emergency Use Authorization (EUA) from the FDA for their Kroger Health COVID-19 Test Home Collection Kit, allowing self-collection using nasal swabs. This enhancement builds on a previous EUA granted on June 1, 2020. The collaboration aims to increase COVID-19 testing capabilities, targeting the processing of up to 60,000 tests weekly by the end of July. To date, over 250,000 samples have been processed, demonstrating the laboratory's rapid expansion in response to national testing needs.

Kroger Health has received FDA Emergency Use Authorization for its COVID-19 Test Home Collection Kit, enabling at-home sample collection supported by telehealth consultations. This initiative will initially serve frontline associates and aims to process up to 60,000 tests weekly by the end of July. The kit includes necessary materials for sample collection and guarantees privacy for test results. Kroger Health plans to expand availability across various states, addressing accessibility issues for individuals without transportation. This effort is part of Kroger's commitment to public health during the pandemic.

The Kroger Co. (NYSE: KR) announced a dividend increase from 64 to 72 cents per share, effective September 1, 2020. This marks the 14th consecutive year of annual dividend increases, demonstrating a commitment to return value to shareholders. The next payment of 18 cents will go to shareholders on record as of August 14, 2020. Kroger's CEO emphasized the company's strong free cash flow and continued plans for dividend growth. The company aims to balance capital investments and shareholder returns while maintaining its investment-grade debt rating.

Kroger Co. (NYSE: KR) reported a solid first quarter for 2020, with total sales reaching $42 billion, a 13.5% increase from $37 billion the previous year. Identical sales surged by 19% while adjusted EPS rose to $1.22 from $0.72. The company invested significantly in its COVID-19 response, allocating over $830 million to support associates and communities. Despite the strong quarter, Kroger refrained from providing 2020 guidance due to the unpredictable effects of the pandemic. The firm's capital allocation strategy remains focused on driving growth and maintaining an investment-grade debt rating.

The Kroger Co. (NYSE: KR) announced that its virtual annual meeting of shareholders will take place on June 25, 2020, at 11 a.m. ET. Shareholders can participate remotely, enabling them to listen, vote, and submit questions via the internet. The meeting will be streamed live on www.virtualshareholdermeeting.com/KR2020. An on-demand replay will be accessible on the Kroger investor relations website about 24 hours after the meeting.