Kroger Co. is the latest big store chain to issue a conservative outlook in the face of current economic uncertainties around tariffs and trade wars, as the supermarket giant said it’s facing factors “outside our control.”“Kroger is unable to provide a full reconciliation” of its earnings projections “without unreasonable effort because it is not possible to predict certain of our adjustment items with a reasonable degree of certainty,” the company said Thursday. ...

Financial Reporting - The Kroger Co. plans to report its fourth quarter and full-year 2024 results on March 6, 2025, along with full-year 2025 guidance[4] Leadership Changes - Rodney McMullen has resigned as Chairman and CEO effective immediately, with no impact on the company's financial performance reported[5][6] - Ronald Sargent has been appointed as interim CEO and Chairman of the Board, effective immediately[8] - Sargent has extensive experience in retail, having served as CEO of Staples, Inc. from 2002 to 2016[9] - The Board has formed a Search Committee to find the next CEO, engaging a nationally recognized firm for the search[8] - McMullen will forfeit all unvested equity awards and will not receive a 2024 bonus due to his resignation[7]

Fourth Quarter Highlights Identical Sales without fuel increased 2.4% Operating Profit of $912 million; EPS of $0.90 Adjusted FIFO Operating Profit of $1,174 million and Adjusted EPS of $1.14 Delivered 11% digital sales growth, excluding the 53rd week in 2023 Fiscal 2024 Highlights Identical Sales without fuel increased 1.5% Operating Profit of $3.8 billion; EPS of $3.67 Adjusted FIFO Operating Profit of $4.7 billion and Adjusted EPS of $4.47 Delivered more than $13B in digital sales 17% increase in Medi ...

Kroger's ex-CEO forfeited more than $11 million in bonus and stock payments when he resigned.Rodney McMullen still had hundreds of millions in Kroger stock, according to the filings.Kroger cited McMullen's "personal conduct" in announcing his resignation on Monday.The former CEO of Kroger forfeited more than $11 million when he resigned from the grocery chain this week. McMullen left behind $11.2 million in a potential bonus as well as stock and options when he left the company, Kroger's SEC filings show.Wi ...

Kroger Co (NYSE:KR) is gathering attention this morning, after CEO Rodney McMullen suddenly resigned amid an investigation into his personal conduct. The grocery giant's board of directors yesterday found McMullen's conduct to be "inconsistent with Kroger's Policy on Business Ethics."The c-suite shakeup comes before the company's fourth-quarter report, which is due out before the open on Thursday, March 6. Kroger stock was last seen up 0.2% in premarket trading, shaking off broader market weakness after a p ...

The Kroger Co. (KR) is likely to register decreases in the top and bottom lines when it reports fourth-quarter fiscal 2024 results on March 6. The Zacks Consensus Estimate for revenues is pegged at $34,594 million, indicating a decline of 6.7% from the prior-year reported figure.The consensus mark for the bottom line has increased a penny in the past seven days and is pegged at $1.10. The consensus figure implies a decline of 17.9% from the prior-year quarter. The company delivered a trailing four-quarter e ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Grocery giant Kroger said Monday (March 3) that Chairman and CEO Rodney McMullen resigned from the company after a board investigation of his personal conduct.The company did not specify the personal conduct but said in a press release that it “while unrelated to the business, was inconsistent with Kroger’s Policy on Business Ethics.”Kroger added that McMullen’s conduct is not related to the company’s financial performance, operations or reporting and did not involve any company employees.The company appoin ...

Core Points - Kroger's CEO Rodney McMullen has resigned following an investigation into his personal conduct that was inconsistent with the company's ethics policy [1][2] - The adverse conduct was not related to Kroger's financials and did not involve any company associates [2] - Ronald "Ron" Sargent, Kroger's lead director, has taken over as interim chairman and CEO while a search committee looks for a permanent replacement [3][8] - Kroger's shares fell by 1% on the morning following the announcement of McMullen's resignation [3] - The resignation comes shortly after the Federal Trade Commission blocked Kroger's $25 billion merger with Albertsons on antitrust grounds [3][4] - Albertsons has filed a lawsuit against Kroger, claiming it failed to make "best efforts" to secure regulatory approval for the merger [7] - McMullen had been with Kroger for over 45 years, serving as CEO for more than a decade [7][8] - Kroger is expected to report its fourth quarter and annual 2024 earnings soon, with projections indicating full-year sales without fuel at the high end of expectations and adjusted earnings per share exceeding predictions [8]

In its upcoming report, Kroger (KR) is predicted by Wall Street analysts to post quarterly earnings of $1.10 per share, reflecting a decline of 17.9% compared to the same period last year. Revenues are forecasted to be $34.59 billion, representing a year-over-year decrease of 6.7%.Over the last 30 days, there has been a downward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forec ...