Retailer recognized for commitment to creating a more inclusive culture CINCINNATI, Jan. 11, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR), today announced it has been recognized by Newsweek as one of "America's Greatest Workplaces for Diversity" for 2024. Kroger received this honor for its commitment to uplifting diversity by fostering a culture that empowers everyone to be their true selves, inspires collaboration and feeds the human spirit. "As an equal opportunity employer, retailer and community part ...

NEW YORK & CINCINNATI--(BUSINESS WIRE)--The Kroger Co. (NYSE: KR), its consumer product investment platform PearlRock Partners (“PearlRock”), and MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, today announced the formation of MPearlRock, a strategic collaboration to introduce emerging consumer packaged goods (“CPG”) brands to new customers. MPearlRock combines MidOcean’s expertise investing ...

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Save big on thousands of fresh, natural and organic products during the retailer's mega savings event CINCINNATI, Jan. 9, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) is bringing customers the tools to make 2024 the best year ever, offering savings on thousands of fresh, natural and organic products and dishing on ways customers can access health and nutrition support at Kroger all year long. "With savings and nutritious offerings from all of customers' favorite Our Brands products, we are thrilled to mak ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.It also includes access to the Zacks Style Scores.W ...

PART I – FINANCIAL INFORMATION [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements.) This section presents Kroger's unaudited consolidated financial statements for Q3 2023, covering operations, balance sheets, cash flows, and key notes [Consolidated Statements of Operations](index=2&type=section&id=Consolidated%20Statements%20of%20Operations) Q3 2023 saw a slight sales decrease but increased operating profit and net earnings, while YTD operating profit declined due to opioid settlement charges Q3 & YTD 2023 vs 2022 Statement of Operations (in millions, except per share data) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Sales** | $33,957 | $34,198 | $112,975 | $113,436 | | **Operating Profit** | $912 | $841 | $1,902 | $3,300 | | **Net Earnings Attributable to The Kroger Co.** | $646 | $398 | $1,428 | $1,793 | | **Diluted EPS** | $0.88 | $0.55 | $1.95 | $2.44 | [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of November 4, 2023, total assets increased to $51.02 billion, driven by higher cash, while total liabilities remained stable and shareowners' equity grew Balance Sheet Highlights (in millions) | Account | Nov 4, 2023 | Jan 28, 2023 | | :--- | :--- | :--- | | Cash and temporary cash investments | $1,725 | $1,015 | | Total current assets | $13,439 | $12,670 | | **Total Assets** | **$51,021** | **$49,623** | | Total current liabilities | $16,785 | $17,238 | | Long-term debt | $12,039 | $12,068 | | **Total Liabilities** | **$39,830** | **$39,609** | | **Total Shareowners' Equity** | **$11,209** | **$10,042** | [Consolidated Statements of Cash Flows](index=5&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first three quarters of 2023, net cash from operating activities significantly increased, while cash used in investing rose and financing decreased, leading to a net cash increase Cash Flow Summary - First Three Quarters (in millions) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,868 | $3,338 | | Net cash used by investing activities | $(2,745) | $(2,192) | | Net cash used by financing activities | $(1,413) | $(2,051) | | **Net increase (decrease) in cash** | **$710** | **$(905)** | [Notes to Unaudited Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes provide critical context to the financial statements, detailing debt obligations, the nationwide opioid settlement, and the proposed Albertsons merger divestiture plan - The company reached an agreement in principle to settle the majority of opioid claims for up to **$1.2 billion** payable to states and subdivisions and **$36 million** to Native American tribes[46](index=46&type=chunk) - A charge of **$1.413 billion** (**$1.113 billion** net of tax) was recognized in the second quarter of 2023 for the opioid settlement, recorded under 'Operating, general and administrative' expenses[47](index=47&type=chunk) - In relation to the proposed merger with Albertsons, the company entered a definitive agreement to sell **413 stores** and other assets to C&S Wholesale Grocers for approximately **$1.9 billion** in cash[59](index=59&type=chunk) [Management's Discussion and Analysis (MD&A)](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses the company's performance, highlighting sales, adjusted EPS, Express Scripts impact, LIFO changes, major events like the opioid settlement and Albertsons merger, and liquidity [Financial Performance](index=23&type=section&id=Financial%20Performance) In Q3 2023, total sales decreased while adjusted net earnings per diluted share grew, with identical sales impacted by Express Scripts and a significant decrease in the LIFO charge Q3 2023 Financial Highlights vs. Q3 2022 | Metric | Q3 2023 | Change vs Q3 2022 | | :--- | :--- | :--- | | Sales | $33,957M | (0.7)% | | Identical sales excluding fuel | (0.6)% | N/A | | Adjusted net earnings per diluted share | $0.95 | 8.0% | | Adjusted FIFO operating profit | $1,022M | (6.6)% | - Identical sales without fuel would have grown **1.0%** in Q3 2023 if not for the termination of the agreement with Express Scripts[73](index=73&type=chunk) - The LIFO charge was **$29 million** in Q3 2023, a significant decrease from **$152 million** in Q3 2022, due to lower expected product cost inflation[78](index=78&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Q3 2023 total sales decreased due to declines in non-fuel and fuel sales, while gross margin rate increased, and OG&A expenses rose as a percentage of sales due to strategic investments - Digital sales increased **11%** in Q3 2023, led by **11%** growth in Pickup and **20%** growth in Delivery solutions[95](index=95&type=chunk) - The gross margin rate for Q3 2023 increased to **22.03%** from **21.37%** in Q3 2022, primarily due to a decreased LIFO charge, higher fuel gross margin, and Our Brands performance, despite higher shrink and promotional investments[102](index=102&type=chunk) - OG&A expenses as a percentage of sales increased in Q3 2023 compared to Q3 2022, driven by planned investments in associates, strategic growth initiatives, and the effect of the terminated Express Scripts agreement[109](index=109&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity strengthened with increased cash from operations and decreased total debt, while share repurchases remain paused to prioritize de-leveraging for the Albertsons merger - Net cash provided by operating activities increased to **$4.9 billion** in the first three quarters of 2023, up from **$3.3 billion** in the same period of 2022[128](index=128&type=chunk) - Total debt decreased by **$615 million** as of November 4, 2023, compared to fiscal year-end 2022, primarily due to the repayment of **$600 million** in senior notes[137](index=137&type=chunk) - The share repurchase program was paused in Q3 2022 to prioritize de-leveraging following the proposed merger with Albertsons[139](index=139&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company reports no material changes in its market risk exposure since the last Annual Report on Form 10-K - There have been no material changes in market risk exposure from the last Annual Report on Form 10-K[146](index=146&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures.) The CEO and CFO concluded that the company's disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that Kroger's disclosure controls and procedures were effective as of the end of the reporting period[147](index=147&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected or were reasonably likely to materially affect the controls[148](index=148&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings.) This section incorporates by reference information on legal proceedings, particularly opioid litigation, from Note 6 of the financial statements - Information regarding legal proceedings is incorporated by reference from Note 6 – "Commitments and Contingencies" in the financial statements[149](index=149&type=chunk) [Issuer Purchases of Equity Securities](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) During Q3 2023, Kroger repurchased shares for employee stock plans, while the $1.0 billion share repurchase program remains unused due to Albertsons merger de-leveraging priority Q3 2023 Share Repurchases | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Aug 13 - Sep 9, 2023 | 28,199 | $48.02 | | Sep 10 - Oct 7, 2023 | 85,843 | $45.90 | | Oct 8 - Nov 4, 2023 | 83,122 | $44.34 | | **Total** | **197,164** | **$45.55** | - The **$1.0 billion** share repurchase program authorized in September 2022 has not been utilized, as the program was paused in Q3 2022 to prioritize de-leveraging for the Albertsons merger[153](index=153&type=chunk)

The Kroger Co. (NYSE:KR) Q3 2023 Earnings Conference Call November 30, 2023 10:00 AM ET Company Participants Robert Quast - Senior Director, Investor Relations Rodney McMullen - Chairman and Chief Executive Officer Gary Millerchip - Chief Financial Officer Conference Call Participants Dean Rosenblum - Bernstein Michael Kessler - Morgan Stanley Michael Montani - Evercore ISI John Heinbockel - Guggenheim Partners Krisztina Katai - Deutsche Bank Ed Kelly - Wells Fargo Chuck Cerankosky - Northcoast Research Rup ...

Kroger Q3 2023 Earnings Release Safe Harbor This presentation includes certain statements that constitute “forward-looking statements” about Kroger’s financial position and expected performance. These statements are based on management’s assumptions and beliefs in light of currently available information. Such statements are indicated by words or phrases such as “commitment,” “delivering,” “future,” “guidance,” “model,” “on track,” “opportunities,” “strategy,” “synergy,” “target,” “thesis,” “will,” and othe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 12, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-303 The Kroger Co. (Exact name of registrant as specified in its charter) Ohio 31-0345740 (State or other jurisdiction of (I.R.S. Employer i ...

The Kroger Co. (NYSE:KR) Q2 2023 Earnings Conference Call September 8, 2023 10:00 AM ET Company Participants Rob Quast - Senior Director, Investor Relations Rodney McMullen - Chairman and Chief Executive Officer Gary Millerchip - Senior Vice President and Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Krisztina Katai - Deutsche Bank Michael Lasser - UBS John Heinbockel - Guggenheim Partners Michael Montani - Evercore ISI Kenneth Goldman - JPMorgan Edward Kelly - Wells Fa ...