Kroger Inc. KR, +0.95% said Tuesday it will lower prices for customers when its planned merger with Albertsons Cos. Inc. ACI, +0.33% closes, noting that it has done the same with previous deals. “We believe the way to be America’s best grocer is to provide great value by consistently lowering prices and offering more choices,” Kroger CEO Rodney McMullen said in a statement. “When we do this, more customers shop with us and buy more groceries, which allows us to reinvest in even lower prices, a better shopp ...

Core Point - Albertsons Companies has voluntarily recalled five ReadyMeals and store-made taco kits due to potential Listeria monocytogenes contamination linked to a cheese ingredient supplied by Rizo-López Foods [1][2]. Group 1: Recall Details - The recalled products include ReadyMeals and taco kits available at various store banners such as Albertsons, Safeway, and Shaw's across multiple states [4][5]. - Consumers are advised to dispose of or return the recalled products for a full refund and to sanitize any surfaces that may have come into contact with these items [3][4]. Group 2: Health Implications - Listeria monocytogenes can cause severe infections, particularly in vulnerable populations such as young children, the elderly, and those with weakened immune systems [2]. - Healthy individuals may experience mild symptoms, but the infection poses serious risks for pregnant women, including miscarriages and stillbirths [2]. Group 3: Product Information - Specific product details include UPC codes and sizes for the recalled items, with sell-through dates up to February 10, 2024 [5][6]. - The affected products were sold in various states including Alaska, California, and Texas, among others [4][5].

Core Insights - Kimco Realty reported strong financial results for Q4 and full year 2023, with net income available to common shareholders of $133.4 million or $0.22 per diluted share for Q4, compared to a net loss of $56.1 million or ($0.09) per diluted share in Q4 2022 [1][4][29] - For the full year 2023, net income available to common shareholders was $629.3 million or $1.02 per diluted share, significantly up from $100.8 million or $0.16 per diluted share in 2022 [6][29] - The company achieved a record pro-rata portfolio occupancy of 96.2% in Q4 2023, marking a 70-basis-point increase sequentially, the largest in over 15 years [2][7] Financial Performance - Funds From Operations (FFO) for Q4 2023 was $239.4 million or $0.39 per diluted share, slightly up from $234.9 million or $0.38 per diluted share in Q4 2022 [5][29] - Full year FFO was $970.0 million or $1.57 per diluted share, compared to $976.4 million or $1.58 per diluted share in 2022 [6][29] - Same-Property Net Operating Income (NOI) grew by 3.2% year-over-year in Q4 2023, driven by a 3.1% increase in minimum rent [2][7] Leasing and Occupancy - The company signed 1.0 million square feet of new leases in Q4 2023, the highest quarterly level in over 10 years [2][3] - Pro-rata occupancy for anchor tenants reached 98.0%, while small shop occupancy hit an all-time record of 91.7% [2][7] - The company reported a 350-basis-point spread between leased and economic occupancy, representing approximately $57 million in anticipated future annual base rent [7] Acquisition and Growth Strategy - Kimco completed the acquisition of RPT Realty in January 2024, adding 56 open-air shopping centers with a total of 13.3 million square feet of gross leasable area [10] - The acquisition is expected to unlock additional growth and long-term value for shareholders [3][10] Capital Market Activities - The company issued $500 million of unsecured notes during Q4 2023 and ended the quarter with $2.8 billion of immediate liquidity [9] - Kimco sold all 14.2 million shares of Albertsons Companies, resulting in $299.1 million of proceeds [9] Dividend Declarations - The board declared a quarterly cash dividend of $0.24 per share, payable on March 21, 2024 [11] 2024 Outlook - The company projects net income per diluted share for 2024 to be between $0.47 and $0.55, and FFO per diluted share to be between $1.54 and $1.58 [12][13]

Companies in the Zacks Consumer Products – Staples industry have been operating in a challenging economic landscape, with core inflation pinching consumers’ budgets, thereby affecting demand. Also, higher input costs have been a hurdle, though the trend has been moderating.Certain players in the industry are contending with elevated SG&A costs. However, dedication to portfolio refinement and innovation, along with prudent saving measures, has been working favorably for Kimberly-Clark Corporation (KMB) , Alb ...

JERICHO, N.Y.--(BUSINESS WIRE)--Kimco Realty® (“Kimco” or the “Company”) (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets, announced today the allocations of the company’s 2023 dividend distributions on its common stock and preferred stock. The allocations as they will be reported on Form 1099-DIV are as follows: Common Shares (CUSIP # 49446R-10-9)   Ex- Ordinary Income ...

BOISE, Idaho--(BUSINESS WIRE)--Albertsons Companies (NYSE: ACI) today announced its annual application process for diverse-owned suppliers. As part of the company’s ongoing commitment to fostering diversity, equity, inclusion and belonging, the Albertsons Cos. Supplier Diversity Program is designed to discover, support and give diverse-owned suppliers the opportunity to expand their business with Albertsons Cos. and its stores. “At Albertsons Cos., we are committed to providing opportunities for diverse ...

Core Viewpoint - The Washington state Attorney General Bob Ferguson has filed a lawsuit to block the proposed $24.6 billion merger between Kroger and Albertsons, citing concerns over reduced competition and potential price increases for consumers in Washington [1][2]. Group 1: Lawsuit Details - The lawsuit argues that the merger will likely "substantially lessen supermarket competition or tend to create a monopoly" in many Washington communities where both companies currently compete [1]. - Ferguson highlighted that the merger could lead to increased prices for food and grocery products while decreasing the quantity and quality of choices available to consumers [1][2]. Group 2: Market Context - The lawsuit references recent price hikes in food costs due to factors like COVID-19 and supply chain issues, emphasizing the need for robust competition among supermarkets to keep prices in check [2]. - Albertsons is identified as the largest supermarket chain in Washington, while Kroger is the second-largest, operating under various brand names [3]. Group 3: Company Responses - In response to the lawsuit, Kroger and Albertsons expressed disappointment, stating that the decision to file the lawsuit was premature while the merger is still under regulatory review [3]. - Both companies plan to "vigorously defend" the lawsuit, arguing that blocking the merger would strengthen larger, non-unionized retailers like Walmart, Costco, and Amazon, thereby increasing their dominance in the grocery industry [5]. - Kroger and Albertsons contend that the merger would lead to lower prices, create more union jobs, and provide more affordable options to communities [5].

Key TakeawaysKroger and Albertsons have pushed back the timeline for a planned merger, citing ongoing dialogue with regulators.The news came on the same day that Washington State's attorney general filed a lawsuit to prevent the proposed tie-up between the grocery store operators.The Kroger share price may find support near a short-term uptrend line and the 50-day moving average around $45.Here is a look at a chart tied to recent news, with important technical levels to monitor.Source: TradingView.com.Share ...

Washington state has asked a judge to block a proposed $25 billion merger between two of America’s largest grocery chains, Kroger and Albertsons, claiming the new entity would harm customers and raise prices.A lawsuit filed in King County Superior Court on Monday seeks to block the proposed Kroger-Albertsons merger, calling it “presumptively unlawful” and alleging that together, the stores would “account for more than 50% of supermarket sales statewide.”The suit is the first formal move by regulators to ha ...

Group 1 - Kroger and Albertsons have delayed their planned $24.6 billion merger due to ongoing discussions with federal and state antitrust regulators [4] - The merger was initially expected to close in early 2024, but now is anticipated to finalize in the first half of Kroger's fiscal 2024, which ends on August 17 [4] - Washington state's attorney general has filed a lawsuit to block the merger, citing concerns over reduced competition and choice in the grocery industry [4] Group 2 - Kroger's share price has shown a slight increase, closing at $46.03, up 0.39% [2] - The stock price may find support near the $45 area, where a short-term uptrend line and the 50-day moving average converge [5] - The stock remains under pressure from the 200-day moving average, with potential resistance at the $50 level [5]