CINCINNATI, Sept. 19, 2024 /PRNewswire/ -- The Kroger Co.'s (NYSE: KR) Board of Directors today declared a quarterly dividend of 32 cents per share to be paid on December 1, 2024, to shareholders of record as of the close of business on November 15, 2024. The company's quarterly dividend has grown at a 13.5% compounded annual growth rate since it was reinstated in 2006. The company continues to expect, subject to board approval, an increasing dividend over time. Kroger's capital allocation strategy is to us ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Kroger (KR) .Kroger currently has an average brokerage recommendation (ABR) of 1.71, on a scale ...

Customers invited to join in and round up purchases; debuts commercial raising awareness around food insecurity CINCINNATI, Sept. 17, 2024 /PRNewswire/ -- The Kroger Co.'s (NYSE: KR) Zero Hunger | Zero Waste Foundation today announced its annual Hunger Action Month campaign, directing all funds raised in Kroger Family of Stores during the month of September to the Feeding America network of food banks in our communities. Customers can round up their purchase to the nearest dollar in their neighborhood store ...

Cakes designed by associates during Enterprise-wide decorating contestCINCINNATI, Sept. 16, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today shared new cakes, inspired by Disney and Pixar's Cars and Toy Story, are now available in Kroger's Family of Stores across the country. These cakes were designed by associates during the 2024 Cake Challenge.New cakes inspired by Disney and Pixar’s Cars and Toy Story are now available at Kroger’s Family of Stores across the country.In January, Kroger invited the top ...

Kroger's NYSE: KR stock price has struggled since early 2022 when the pandemic-driven bubble burst. There are still hurdles, including the stalled merger with Albertsons Companies NYSE: ACI, but they are diminishing, and investors are faced with a win-win situation regardless of them. The company has been building capital and improving its balance sheet for nearly two years, setting it up for a smooth closing and accelerated growth when the Albertsons deal is closed or accelerating capital returns if blocke ...

WendellandCarolyn The past couple of days have been quite positive for shareholders of The Kroger Co. (NYSE:KR). On September 12, shares of the massive grocery chain closed up 7.2%. And as of midday on September 13, the stock was up another 1%. This move higher has been driven by financial results covering the second quarter of the 2024 fiscal year that management just reported. Even though earnings per share fell short of expectations, revenue and adjusted earnings per share exceeded the estimates that ana ...

Retailer recognized for earning the confidence of consumers, investors and associatesCINCINNATI, Sept. 13, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR), today announced it has been recognized by Newsweek as one of "World's Most Trustworthy Companies" for 2024. Newsweek recognizes the top 1,000 most trustworthy companies across the globe, spanning 23 industries and 20 countries."Our Fresh for Everyone promise reflects Kroger's commitment that customers can trust the quality, value and freshness of every it ...

The Kroger Co. (NYSE:KR) Q2 2024 Earnings Conference Call September 12, 2024 10:00 AM ET Company Participants Rob Quast - Senior Director of IR Rodney McMullen - Chairman and CEO Todd Foley - Interim CFO Conference Call Participants Edward Kelly - Wells Fargo Securities Kelly Bania - BMO Capital Markets Anders Myhre - Guggenheim Partners Leah Jordan - Goldman Sachs Simeon Gutman - Morgan Stanley Michael Montani - Evercore ISI Kenneth Goldman - JPMorgan Rupesh Parikh - Oppenheimer Mark Carden - UBS Robert Oh ...

Financial Data and Key Metrics Changes - Kroger achieved identical sales without fuel growth of 1.2% in Q2 2024, supported by positive customer metrics including increases in total and loyal households and customer visits [19][20] - Adjusted EPS was $0.93 per diluted share, a decline of 3% compared to last year [24] - FIFO gross margin rate, excluding fuel, was 22.6% of sales, reflecting a 42 basis points improvement from last year [23] Business Line Data and Key Metrics Changes - Digital sales grew 11%, with delivery solutions leading growth at 17% and pickup sales increasing by 10% [14][21] - Sales growth in Kroger's Our Brands products outpaced national brands, with over 90% of customer households purchasing Our Brands products [11][12] - The pharmacy segment's sales outpaced internal expectations, although profitability was impacted by product mix pressures [17] Market Data and Key Metrics Changes - The food-at-home industry remains competitive, with Kroger's model allowing for sustainable investments in value and competitive pricing [9] - Customers are increasingly purchasing lower-priced items and focusing on essentials, particularly budget-conscious consumers [7][8] Company Strategy and Development Direction - Kroger is focused on enhancing customer experience through affordable prices, personalized promotions, and a multi-tiered portfolio of products [6][8] - The company is committed to its Fresh for Everyone promise, ensuring quality and freshness through strong supplier relationships [10] - Kroger is optimistic about growth in health and wellness, leveraging its pharmacy business to enhance customer loyalty [16] Management's Comments on Operating Environment and Future Outlook - Management noted that customers are adjusting to economic pressures, with a focus on essentials and budget-friendly options [7][8] - The company expects to navigate economic uncertainty while maintaining its full-year guidance for identical sales growth [19][31] - Management expressed confidence in the merger with Albertsons, highlighting the complementary strengths of both organizations [33][34] Other Important Information - Kroger raised its quarterly dividend by 10%, marking the 18th consecutive year of dividend increases [30] - The company is committed to maintaining an investment-grade debt rating and has a net total debt-to-adjusted EBITDA ratio of 1.24 [28][29] Q&A Session All Questions and Answers Question: Concerns about competitive backdrop and promotions - Management noted that promotions are returning to normal levels post-COVID, with effective promotions supported by CPG partners [38] Question: Impact of digital on gross margin - Management indicated that digital sales growth, particularly in Our Brands, positively impacted gross margin, with expectations for continued improvement [41] Question: Expectations for P&L benefits and reinvestment - Management confirmed that margin enhancement programs and productivity improvements will be reinvested back into the business to drive long-term growth [46][47] Question: Market share trends and Fresh investments - Management reported stronger trends in Fresh compared to center store, with expectations for continued improvement [50] Question: Balancing inflation and customer appeal - Management emphasized the need to balance passing on inflation with maintaining affordability for budget-conscious consumers, expecting overall inflation to remain around 1% [66] Question: CapEx spending and EPS growth cadence - Management indicated that the increased CapEx reflects strong cash flow and operational efficiency, with EPS growth expected to be slightly ahead in Q3 and slightly behind in Q4 [69][72] Question: Sales growth challenges and nontraditional competitors - Management acknowledged the pressures from economic factors and nontraditional competitors, but noted that changes in consumer behavior could be beneficial for Kroger [85]

| --- | --- | --- | |-----------------------------------------------------|-------|-------| | | | | | | | | | | | | | Kroger Q2 2024 Earnings Release September 12, 2024 | | | | | | | Safe Harbor This presentation includes certain statements that constitute "forward-looking statements" about Kroger's financial position and expected performance, including our proposed transaction with Albertsons Companies. These statements are based on management's assumptions and beliefs in light of currently available infor ...