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Kroger(KR) - 2020 Q1 - Earnings Call Transcript
2020-06-18 21:51
Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.22 per diluted share for Q1 2020, with identical sales without fuel increasing by 19% [27] - Digital sales grew by 92%, contributing slightly over 3% to identical sales without fuel [29] - FIFO gross margin rate, excluding fuel, increased by 44 basis points due to sales leverage [29] Business Line Data and Key Metrics Changes - Fresh departments, including meat, seafood, and produce, generated strong identical sales during the quarter [13] - The company's brands grew by 21.1%, with plant-based foods growing over 32% [14] - The digital channel saw a significant increase in sales, with triple-digit growth in April and May [15] Market Data and Key Metrics Changes - The average retail price of fuel was $2.13 this quarter, down from $2.62 in the same quarter last year [31] - Fuel profitability was a major tailwind in Q1, but is expected to be a headwind for the remainder of 2020 [31] Company Strategy and Development Direction - The company is committed to its Restock Kroger initiative, which includes significant investments in technology and digital capabilities [12] - The partnership with Ocado is seen as essential for enhancing e-commerce capabilities and improving profitability [16] - The company is focused on maintaining a flexible distribution network to adapt to changing consumer demands [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the unprecedented challenges posed by the COVID-19 pandemic but expressed confidence in the company's ability to adapt and grow [25] - The company is not providing specific guidance for 2020 due to uncertainties related to COVID-19 and its impact on consumer behavior [37] - Management expects continued elevated sales levels in Q2, although tapering from Q1 trends [39] Other Important Information - The company invested over $830 million in Q1 to support associates and safeguard customers during the pandemic [26] - An additional $236 million was contributed to multi-employer pension plans to stabilize future associate benefits [20] - The company is committed to diversity, equity, and inclusion within its workforce [20] Q&A Session Summary Question: Can you elaborate on the headwinds affecting Q2 EPS growth? - Management indicated that fuel performance would be a significant factor, with expected headwinds of $50 million to $100 million due to lower year-over-year gallons [45] Question: How has the partnership with Ocado influenced e-commerce plans? - Management noted that the strategic decisions made in previous years have paid off, with digital delivery and pickup business growing significantly [47] Question: What are the expectations for identical sales in Q2? - Management expects a gradual return to lower food eating at home, with sales growth trending in the mid-teens [56]
Kroger(KR) - 2020 Q4 - Annual Report
2020-04-01 13:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 1, 2020. 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 Incorporation ...
Kroger(KR) - 2019 Q4 - Earnings Call Transcript
2020-03-05 20:54
The Kroger Company (NYSE:KR) Q4 2019 Earnings Conference Call March 5, 2020 10:00 AM ET Company Participants Rebekah Manis – Director-Investor Relations Rodney McMullen – Chairman and Chief Executive Officer Gary Millerchip – Chief Financial Officer Conference Call Participants Robby Ohmes – Bank of America Global Research Ken Goldman – JPMorgan Rupesh Parikh – Oppenheimer Kelly Bania – BMO Capital Markets Edward Kelly – Wells Fargo Christopher Mandeville – Jefferies Simeon Gutman – Morgan Stanley John Hein ...
Kroger(KR) - 2020 Q3 - Quarterly Report
2019-12-17 19:50
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 November 9, 2019 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 ...
Kroger(KR) - 2019 Q3 - Earnings Call Transcript
2019-12-05 18:08
Kroger Co (NYSE:KR) Q3 2019 Earnings Conference Call December 5, 2019 10:00 AM ET Company Participants Rebekah Manis - Director, IR William McMullen - Chairman & CEO Gary Millerchip - SVP & CFO Conference Call Participants Edward Kelly - Wells Fargo Securities Judah Frommer - Crédit Suisse Charles Cerankosky - Northcoast Research Partners Antonio Tabet - Evercore ISI Kenneth Goldman - JPMorgan Chase & Co. Erica Eiler - Oppenheimer Michael Lasser - UBS Investment Bank Joshua Kamboj - Morgan Stanley Robert Oh ...
Kroger(KR) - 2020 Q2 - Quarterly Report
2019-09-24 20:12
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 17, 2019 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 ...
Kroger(KR) - 2019 Q2 - Earnings Call Transcript
2019-09-12 19:50
The Kroger Co. (NYSE:KR) Q2 2019 Earnings Conference Call September 12, 2019 10:00 AM ET Company Participants Rebekah Manis - Director, IR Rodney McMullen - Chairman & CEO Gary Millerchip - CFO Conference Call Participants Rupesh Parikh - Oppenheimer John Heinbockel - Guggenheim Securities Edward Kelly - Wells Fargo Michael Lasser - UBS Judah Frommer - Credit Suisse Robbie Ohmes - Bank of America Merrill Lynch Karen Short - Barclays Operator Good morning and welcome to the Kroger Company Second Quarter 2019 ...
Kroger(KR) - 2020 Q1 - Quarterly Report
2019-06-28 16:12
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 May 25, 2019 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 inco ...
The Kroger Co. (KR) CEO Rodney McMullen on Annual Meeting of Shareholders (Transcript)
2019-06-27 20:55
The Kroger Co. (NYSE:KR) Annual Meeting of Shareholders June 27, 2019 11:00 AM ET Company Participants Lee Cassiere - Vice President, Internal Audit Rodney McMullen - Chairman & Chief Executive Officer Rebekah Manis - Director, Investor Relations Dawn Gilmore - Director, Talent Development Conference Call Participants Michele Colopy - Pollinator Stewardship Council Unidentified Company Representative Ladies and gentlemen, please welcome to the stage our Chairman and CEO, Rodney McMullen. Rodney McMullen Goo ...
Kroger(KR) - 2019 Q1 - Earnings Call Transcript
2019-06-20 17:18
The Kroger Co. (NYSE:KR) Q1 2019 Earnings Conference Call June 20, 2019 10:00 AM ET Company Participants Rebekah Manis - Director, IR W. Rodney McMullen - Chairman & CEO Gary Millerchip - CFO Conference Call Participants Robbie Ohmes - Bank of America Merrill Lynch Judah Frommer - Credit Suisse Edward Kelly - Wells Fargo Rupesh Parikh - Oppenheimer John Heinbockel - Guggenheim Securities Michael Lasser - UBS Kelly Bania - BMO Capital Markets Chris Prykull - Goldman Sachs Michael Montani - Evercore ISI Opera ...