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Kroger Reports First Quarter 2019 Results
The Kroger Co. (NYSE: KR) today reported its first quarter 2019 results and provided a Restock Kroger progress update on the company's three-year transformation plan.
Comments from Chairman and CEO Rodney McMullen
"Because the retail industry is constantly transforming, we proactively launched Restock Kroger to deliver for our customers and shareholders. It all starts with our customer obsession, which is why Kroger is assembling a platform to deliver anything, anytime, anywhere.
We are building momentum in the second year of Restock Kroger, which is off to a solid start. The entire company is focused on redefining the grocery customer experience, improved upon by...
Kroger and Ocado Break Ground on America's First High-Tech Customer Fulfillment Center
The Kroger Co. (NYSE: KR), America's largest grocery retailer, and Ocado (LSE: OCDO), one of the world's largest dedicated online grocery retailers, today broke ground on America's first customer fulfillment center (CFC).
"Kroger is incredibly excited to reach this meaningful milestone in our Restock Kroger vision to serve America through food inspiration and uplift," said Rodney McMullen, Kroger's chairman and CEO. "Our partnership with Ocado will introduce transformative ecommerce, fulfillment and logistics technology in the U.S. and bring customers fresher food faster than ever before, accelerating our ability to provide anything, anytime, anywhere...
Kroger and Home Chef Launch Pilot for Three New Retail Meal Solutions
The Kroger Co. (NYSE: KR) and Home Chef announced today a pilot to enhance its existing selection of meal kits sold in more than 900 Kroger Family of Stores across the country with three new options.
Kroger Introduces Don Lee Farms Plant-Based Burger into Markets
Don Lee Farms is announcing the introduction of its trailblazing Organic Plant-Based Burger in nearly 2,000 Kroger® markets. The burgers will be sold in the meat section at Kroger®, Ralphs®, Dillons®, King Soopers®, Fry's®, QFC® and Fred Meyer®.
Donald Goodman, President, Don Lee Farms, said: “Working with Kroger® has been a priority for us in our pursuit to expand to where our customers want us to be. With the addition of Kroger®, we are bringing the fastest growing burger of its kind to nearly 2,000 locations in ...
Kroger Announces Executive Promotions to Support Restock Kroger
The Kroger Co. (NYSE: KR) today announced several executive promotions to support Restock Kroger and the company's long-term growth.
"We are making progress on redefining the customer experience, and our high-performing leaders are determined to maintain that momentum in year two of Restock Kroger and beyond," said Mike Donnelly, Kroger's executive vice president and chief operating officer. "Each of these promotions is consistent with Kroger's track record of strong succession planning and will help ensure we continue driving toward our growth objectives."
"We have a leadership team that combines deep experience with creative new talent," said Tim Massa, Kroger's senior vice president of human resources and chief people officer. "In our dynamic retail environment, we continue to ...
Kroger and Peak Rock Capital Announce Definitive Agreement for Purchase of Kroger's Turkey Hill
The Kroger Co. (NYSE: KR) and Peak Rock Capital, a leading middle-market private equity firm based in Austin, Texas, today announced a definitive agreement for the sale of Kroger's Turkey Hill business to an affiliate of Peak Rock Capital.
As part of the sale agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its large Conestoga, Penn., facility with its nearly 800 full-time, part-time and seasonal associates and under the same recognizable Turkey Hill brand.
"We believe this is the right step to ensure the Turkey Hill business can meet its full potential and continue to grow its successful ice cream and ...
Kroger and Ocado Name Central Florida City Location of Second High-Tech Customer Fulfillment Center
The Kroger Co. (NYSE: KR), America's largest grocery retailer, and Ocado (LSE: OCDO), one of the world's largest dedicated online grocery retailers, today announced Groveland, Lake County, Florida, as the second location for one of their Customer Fulfillment Centers (CFC).
"Kroger is incredibly excited to construct one of our industry-leading Customer Fulfillment Centers in Groveland, Florida—a city west of Orlando—through our relationship with Ocado," said Alex Tosolini, Kroger's senior vice president of new business development. "Through our strategic partnership, we are leveraging ...
Kroger and Nuro Launch Autonomous Delivery Service in Houston
The Kroger Co. (NYSE: KR), America's largest grocery retailer and Nuro, the robotics company transforming local commerce, today announced the launch of their autonomous grocery delivery service in Houston. The innovative service will be available through two Houston Kroger stores, reaching customers residing in four local zip codes.
Since August 2018, Kroger and Nuro have operated a popular, first-of-its-kind self-driving grocery delivery service in Scottsdale, AZ, servicing a single zip code with an autonomous vehicle fleet. In late 2018, the partnership expanded to include Nuro's custom vehicle, R1, marking the nation's first fully unmanned delivery service available to ...
Kroger and Inmar Finalize Strategic Relationship
Inmar and The Kroger Co. (NYSE: KR) today announced the completion of Inmar's acquisition of You Technology, LLC, a digital coupon and digital rebate publishing platform, from Kroger and the finalization of Inmar's long-term service agreement to provide digital coupon services to the Kroger family of stores.
Kroger's sale of YouTech to Inmar was for total consideration of $565 million, including $400 million of cash consideration received upon closing. Kroger intends to use the after-tax cash proceeds from the sale to reduce debt.
"The monetization of our investment in YouTech and long-term agreement with Inmar demonstrate how Kroger can create value in different ways ...
Kroger Delivers Key Year-One Restock Kroger Commitments
The Kroger Co. (NYSE: KR) today reported fourth quarter and fiscal 2018 results and provided a Restock Kroger progress update after its first full year executing the company's three-year transformation plan.
"Kroger solidly delivered on what we set out to do in 2018, which was an investment year that laid the groundwork for us to achieve our 2020 Restock Kroger targets including financials. We reached our FIFO operating profit goal and finished the year with sales and business momentum. We have a clear path to ...
Kroger and Ocado Announce Two Additional Sites for High-Tech Customer Fulfillment Centers
The Kroger Co. (NYSE: KR), America's largest grocery retailer, and Ocado (LSE: OCDO), one of the world's largest dedicated online grocery retailers, today announced Central Florida and Mid-Atlantic as the newly-named regions for America's next two customer fulfillment centers (CFC).
"Kroger is excited to partner with Ocado—one of the most innovative, advanced companies in the world—to redefine the grocery shopping experience for customers along the East Coast," said Rodney McMullen, Kroger's chairman and CEO. "We are incredibly excited to introduce customer fulfillment centers in this region to deliver on our Restock Kroger vision to ...
Kroger Introduces Kroger Pay and Kroger Rewards Debit Card
The Kroger Co. (NYSE: KR) announced today it is introducing Kroger Pay, a mobile payment solution that securely combines a customer's payment and loyalty card information to create a faster checkout experience. The company is also launching a new Kroger REWARDS debit card, a rewarding payment option for customers.
"Kroger is redefining the customer experience by creating innovative ways to pay at our stores and online," said Gary Millerchip, CEO of Kroger Personal Finance and corporate strategy integration lead. "Kroger Pay and the Kroger REWARDS debit card are two more ways we are transforming our payments model to benefit our customers ...
Kroger and Home Chef Expand Nationwide Retail Rollout and Launch Meal Kit Feature for Online Orders
The Kroger Co. (NYSE: KR) and Home Chef announced today the introduction of retail meal kits to new cities, bringing the weekly rotating meal solution to 500 additional Kroger Family of Stores across the country. Additionally, homechef.com has launched a customizable meal kit feature for online orders, allowing customers to have more flexibility in deciding what's for dinner by providing the choice to change and upgrade recipe ingredients. The feature—the first among leading meal kit brands—offers unprecedented variety for customers.
"Kroger continues to redefine the customer experience and provide new ways to shop for, prep and cook meals through exciting brick-and-mortar and digital experiences," said Robert Clark, Kroger's senior vice president of merchandising. "Last October, Kroger introduced Home Chef retail meal kits, and ...
Kroger Promotes Stuart W. Aitken to Senior Vice President, Alternative Business
The Kroger Co. (NYSE: KR) today announced a key promotion in support of Restock Kroger and beyond with the appointment of Stuart W. Aitken to the newly-created role of Senior Vice President, Alternative Business, effective February 3, 2019.
In this role, Mr. Aitken will assume oversight for Kroger's successful existing alternative profit businesses, including 84.51° and Kroger Personal Finance (KPF), and also lead the development of a full portfolio of alternative businesses to support the transformation of Kroger's growth model. Mr. Aitken will continue to serve as chief executive officer of 84.51° and ...
Kroger CEO Rodney McMullen Outlines Five Exciting Predictions for the Future of Retail
The Kroger Co. Chairman and CEO Rodney McMullen provided his outlook on the future of retail at the NRF 2019: Retail's Big Show in New York City during a dynamic keynote presentation themed Restocking the future: Kroger's insatiable appetite to play and win the long game. CNBC "Squawk on the Street" and "Closing Bell" Anchor Sara Eisen moderated the 30-minute conversation on Sunday.
Here are Mr. McMullen's five predictions for the future of retail.
Retail Won't Go Away
The industry experiences disruption and transformation every few years, but it's happening at a more rapid speed than ever before...
Kroger and Microsoft Partner to Redefine the Customer Experience and Introduce Digital Solutions
The Kroger Co. (NYSE: KR) and Microsoft Corp. (Nasdaq: MSFT) today announced a collaboration to redefine the customer experience using Kroger Technology products powered by Microsoft Azure, the retailer's preferred cloud platform for Retail as a Service (RaaS). Through this innovative partnership, Kroger will pilot a connected store experience and together with Microsoft, jointly market a commercial RaaS product to the industry.
"Kroger is building a seamless ecosystem driven by data and technology to provide our customers with personalized food inspiration. We are identifying partners through Restock Kroger who will help us reinvent the customer experience and create new profit streams that will also accelerate our core business growth. We are excited to collaborate with Microsoft to redefine ...
Kroger Announces Retirement of Delta Division President Scot Hendricks
The Kroger Co. (NYSE: KR) today announced the retirement of Delta Division President Scot Hendricks, and the promotion of Victor Smith to succeed him. Mr. Smith currently serves as vice president of merchandising for the Ralphs division.
Scot Hendricks to Retire after 38 Years of ServiceScot Hendricks will retire from the company, effective February 2, 2019, after 38 years of distinguished service – the last three leading Kroger's Delta division with 15,800 associates, serving customers in 101 stores across West Tennessee and parts of Mississippi, Arkansas, Kentucky and Missouri.
"Scot's genuine love and passion for the retail business and for his Delta family is illustrated in his interactions with everyone he meets," said Mike Donnelly, Kroger's executive vice president and COO. "His passion for people has made him a tremendous mentor, and he will leave a legacy of driven, hard-working teams who care about each other and the customers and ...
Nuro and Kroger Launch First-Ever Unmanned Delivery Service for the General Public
After extensive testing, Nuro's custom unmanned vehicle begins customer deliveries in Scottsdale, AZ
Nuro and The Kroger Co. (NYSE: KR) today announced the launch of the first-ever unmanned delivery service available to the general public.
Since August, the companies have operated a self-driving grocery delivery service in Scottsdale, AZ with an autonomous Prius fleet accompanied by vehicle operators. The autonomous vehicles have completed nearly one thousand deliveries to the general public.
With today's launch, the fleet is expanding to include Nuro's custom unmanned vehicle known as the R1. The R1 travels on public roads and has no driver, no passengers and only transports goods. Nuro has been developing the R1 since 2016, and announced its partnership with Kroger ...
Kroger Announces Succession Plan for Chief Financial Officer, J. Michael Schlotman
Mr. Schlotman to retire as CFO in April 2019 and will remain on through December 2019 to ensure smooth transition; Gary Millerchip, CEO of Kroger Personal Finance, appointed as successor
The Kroger Co. (NYSE: KR) today announced its succession plan for Chief Financial Officer.
J. Michael Schlotman, Kroger's Chief Financial Officer since 2000, has decided to retire in December of 2019. Mr. Schlotman will continue as CFO through the end of Kroger's fiscal 2018 and up to April 3, 2019. He will then remain an executive vice president of the company and continue to sit on the senior leadership team to support the company during this transition period until December 28, 2019.
Gary Millerchip, CEO of Kroger Personal Finance, will succeed Mr. Schlotman as Senior Vice President and Chief Financial Officer of Kroger, effective April 4, 2019 ...
Kroger Reports Third Quarter 2018 Results
The Kroger Co. (NYSE: KR) today reported GAAP net earnings of $317 million, or $0.39 per diluted share, in the third quarter of 2018, which ended on November 10. Kroger's third quarter adjusted operating net earnings were $394 million, or $0.48 per diluted share (see table 6, 2018 Third Quarter Adjustment Item). The 2018 third quarter adjustment item relates to the change in the market value of Kroger's investment in Ocado securities. GAAP net earnings for the third quarter 2017 were $397 million, or $0.44 per diluted share. Kroger reported identical sales growth, without fuel, of 1.6% for the third quarter of 2018.
For the first three quarters of 2018, Kroger's...
Target is Ahead of Walmart and Kroger When it Comes to Offering a Seamless Shopping Experience
Target beat both Walmart and Kroger when Brick Meets Click evaluated how well these leading national retailers deliver a seamless grocery shopping experience, growing out of their respective omnichannel strategies.
“If the goal of omnichannel is to enable shopping from anywhere, for anything, and any way a customer wants, then the seamless shopping rating highlights progress and opportunities against that goal,” says David Bishop, partner at Brick Meets Click. “And, for seamless shopping to have a positive impact on a retailer’s results...
Kroger and Ocado Identify Site of America's First High-Tech Customer Fulfillment Center
$55 million capital investment and 410 new jobs coming to Southwest Ohio
The Kroger Co. (NYSE: KR), America's largest grocery retailer, and Ocado (LSE: OCDO), one of the world's largest dedicated online grocery retailers, today announced the Cincinnati region as its selection for America's first customer fulfillment center (CFC).
"Kroger is joining with the best partners in the world to co-innovate and leverage technology to redefine the customer experience," said Rodney McMullen, Kroger's chairman and CEO. "We are incredibly excited to partner with Ocado to...
Kroger Shares Top Food Trends for 2019
From regional tastes to plant-based alternatives, the year ahead will focus on flexible eating styles
Kroger announced today its top food trend predictions for 2019, insightfully curated by its team of Our Brands new product developers, chefs and innovators, focusing on flexible eating styles.
No matter the preference or practice, the latest tastes and trends can be found in the aisles where customers shop for Simple Truth®, Kroger's natural, organic and free-from brand, Kroger®, Where Awesome Meets Affordable™, and Private Selection®, a collection of culinary creations designed to elevate every occasion.
Kroger's Top 5 Trends for 2019...
Pilgrim’s Teams Up with Kroger to Donate 750,000 Meals to Support Florence Recovery Efforts
GREELEY, Colo.- Pilgrim’s and Kroger today announced a joint partnership to support communities impacted by Hurricane Florence through a donation of 80,000 pounds of Just BARE chicken —Pilgrim’s brand committed to providing good food for more people.
The Pilgrim’s and Kroger teams are proud to lend their support to Hurricane Florence recovery efforts. Partnering with Feeding America, the joint effort will distribute 750,000 meals to families and local communities in the Carolinas recovering from the natural disaster that made landfall on Sept. 14.
“It has been humbling to watch communities come together to support one another in this time of need,” said Felix Turner, Kroger Corporate Affairs Manager. “We are proud to...
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