Collaboration carefully curated with Lisa Vanderpump's signature style CINCINNATI, Aug. 22, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today announced the launch of Vanderpump Blooms x Bloom Haus™, a floral collection curated by businesswoman, TV personality, author and philanthropist Lisa Vanderpump. Available exclusively at Kroger Family of Stores beginning September 4, the collection brings Vanderpump's trademark elegant aesthetic to life with gorgeous floral arrangements.The Kroger Co. announced the ...

Program has granted more than $5 million in scholarship fundsCINCINNATI, Aug. 21, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) Foundation today announced the Kroger Scholars for the 2024-2025 academic year, awarding $300,000 to 120 students. All scholars are the children of Kroger associates and receive $2,500 toward any accredited two- or four-year college, university or vocational program. Launched in 2008, the Kroger Scholars Program has awarded more than $5 million in scholarship funds."To be selected ...

WendellandCarolyn Last year, I wrote about Kroger (NYSE:KR) and argued that it had an attractive valuation. I also liked its dividend growth record. Today, I'd only really support the latter argument. I hold the stock, and I plan to continue doing so. However, I'm not in a huge hurry to add more shares. Kroger is a great company with a long history. It has stores throughout the United States, and it sells many products under its own label. It put out a bid to buy Albertsons (ACI) for $24.6 billion in Oc ...

CINCINNATI, Aug. 20, 2024 /PRNewswire/ -- The Kroger Co. (NYSE:KR) ("Kroger" or the "Company") announced today that it has priced a public offering in an aggregate principal amount of $1.0 billion of its 4.700% Senior Notes due 2026 at a price of 99.996 percent of par (the "2026 notes"); $1.0 billion of its 4.600% Senior Notes due 2027 at a price of 99.980 percent of par (the "2027 notes"); $1.4 billion of its 4.650% Senior Notes due 2029 at a price of 99.895 percent of par (the "2029 notes"); $1.3 billion ...

Key TakeawaysKroger asked a federal court for an injunction to stop a Federal Trade Commission (FTC) proceeding to block the grocery chain's $24.6 billion acquisition of Albertsons.The FTC moved this year to prevent the sale, arguing it would limit competition and raise food prices.Kroger also announced it would offer bonds to pay for part of the cash considerations in the deal. Kroger (KR) shares declined in intraday trading Tuesday as the biggest U.S. supermarket chain launched a two-part effort to finall ...

Core Viewpoint - Kroger is suing the Federal Trade Commission (FTC) to block its in-house review of the proposed $25 billion merger with Albertsons, claiming the tribunal is unconstitutional and that the matter should be resolved in federal court [1][2]. Group 1: Legal Proceedings - The lawsuit was filed in Cincinnati, coinciding with a scheduled trial where the FTC seeks to temporarily block the merger while its in-house judges review the deal [1]. - Kroger argues that the in-house review process could take years, which would delay the merger [2]. - Kroger's Chairman stated the company is prepared to defend the merger in federal court, asserting that this is the appropriate venue for the case [2]. Group 2: FTC's Position - The FTC has previously indicated that the merger could lead to increased prices for millions of Americans and negatively impact the labor market for unionized grocery store workers [1]. - A spokesperson for the FTC declined to comment on the ongoing lawsuit [4].

Core Viewpoint - The Kroger Co. is challenging the Federal Trade Commission's (FTC) administrative proceeding regarding its merger with Albertsons, claiming it violates Constitutional protections against federal overreach [1][2][3] Group 1: Legal Arguments - The company argues that the FTC's administrative proceeding violates Article II of the Constitution, as the Administrative Law Judge is not removable by the President [1] - The FTC is also accused of violating Article III by adjudicating Kroger's private rights through the Executive Branch instead of the independent Judicial Branch [1] - The FTC's attempt to split the challenge into two separate tribunals is seen as an inappropriate move to litigate the same issues multiple times [2] Group 2: Company Position - Kroger emphasizes that the merger aims to provide customers with lower prices and secure good-paying union jobs from day one [3] - The company is prepared to defend the merger in federal court, which it considers the appropriate venue for this matter [3] - Kroger is seeking a halt to what it describes as an unlawful proceeding before the FTC's in-house tribunal [3] Group 3: Context and Operations - Kroger operates with nearly 420,000 associates and serves over eleven million customers daily through various retail food stores and a digital shopping experience [4]

Core Viewpoint - Kroger's proposed acquisition of Albertsons, valued at $25 billion, faces skepticism regarding government approval due to ongoing food inflation concerns, despite Kroger's commitment to reduce prices by $1 billion at Albertsons stores [1][2]. Group 1: Acquisition Details - Kroger initially promised to lower prices by $500 million at Albertsons stores, which has now increased to $1 billion as part of efforts to address antitrust concerns [1]. - The merger aims to enhance Kroger's competitive position against Walmart, which offers grocery prices approximately 25% lower than traditional supermarkets [1]. Group 2: Political and Economic Context - Food prices remain a significant issue in U.S. politics, with current food prices being 21% higher than when President Biden took office, despite overall inflation cooling to 2.9% year-over-year [2]. - Vice President Kamala Harris has pledged to advocate for a federal ban on grocery price gouging, while former President Donald Trump criticized this plan as "communist price controls" [2]. Group 3: Legal Challenges - The merger is facing legal challenges, with lawsuits filed by the Washington State Attorney General and the Colorado Attorney General, which have paused the merger process pending court rulings [4]. - The Federal Trade Commission (FTC) is also contesting the merger, with expectations that it could be blocked due to antitrust concerns [4]. Group 4: Financial Implications - Kroger has incurred over $800 million in merger-related costs, including legal and consulting fees, and would face additional millions in fees if the merger is blocked [5]. - Previous acquisitions by Kroger, such as Roundy's and Harris Teeter, involved significant investments in price cuts, resulting in declines in gross margins over time [5].

Kroger has reportedly doubled the value of price cuts it has committed to making if its merger with Albertsons goes through.The grocery store operator plans to lower prices by $1 billion, a figure that’s up from the $500 million in cuts it previously committed to make, Bloomberg reported Thursday (Aug. 15), citing a Kroger spokeswoman.Kroger made the commitment to appease regulators at a time when the merger is facing a federal court challenge, two state lawsuits and a Federal Trade Commission (FTC) adminis ...

CINCINNATI, Aug. 15, 2024 /PRNewswire/ -- The Kroger Co. (NYSE:KR) ("Kroger" or the "Company") announced today that it has commenced private exchange offers to certain eligible holders ("Eligible Holders") (each an "Exchange Offer" and, collectively, the "Exchange Offers") for any and all outstanding notes (the "ACI Notes") issued by Albertsons Companies, Inc. (NYSE:ACI) ("ACI"), New Albertsons, L.P. ("NALP"), Safeway Inc. ("Safeway"), Albertson's LLC ("Albertsons"), Albertsons Safeway LLC ("ASL") and Ameri ...