|Bid||24.29 x 1200|
|Ask||24.30 x 4000|
|Day's Range||24.01 - 24.42|
|52 Week Range||20.70 - 31.98|
|Beta (3Y Monthly)||0.75|
|PE Ratio (TTM)||12.08|
|Earnings Date||Dec 4, 2019 - Dec 9, 2019|
|Forward Dividend & Yield||0.64 (2.68%)|
|1y Target Est||27.48|
Democratic Congressman Raja Krishnamoorthi (D-IL) is introducing a bill that would cap the amount of nicotine in e-cigarettes. This comes as NYU researchers published a study that links e-cigarettes to increased rates of cancer in mice. Yahoo Finance's Jessica Smith, Zack Guzman & Heidi Chung, along with Vivino Founder Heini Zachariassen discuss.
Legislators in Washington are proposing new legislation that would cap the nicotine levels in e-cigarettes. The bill comes after a wave of vaping-related illnesses and deaths, which has prompted stores to remove vapes and e-cigarettes from their shelves.
(Bloomberg Opinion) -- But why?That’s the question I keep asking as Uber Technologies Inc. makes the case that driving people around cities gives it a leg up on moving physical goods from place to place — restaurant food, freight by truck and groceries.Uber on Friday expanded those efforts by agreeing to buy a majority of Cornershop, which helps supermarkets, pharmacies and food retailers deliver their goods. It had operated mostly in Mexico and Chile before a recent expansion. Walmart Inc. agreed last year to buy Cornershop for $225 million, but Mexican regulators blocked the deal. Uber didn’t disclose its purchase price. Uber’s pitch is that having drivers drop people at work or transport them on date nights gives it an opportunity to also deliver burritos, bananas or movie theater popcorn to people’s homes. (That last one is a real thing, somehow.) Executives have said that restaurant delivery and experiments with other categories such as groceries give Uber couriers more work, particularly outside of the peak demand for car rides. This all sounds nice, until you think about it for more than five seconds.Every time Uber wants to enter a new delivery or logistics category, it needs to strike relationships with a new class of companies. Restaurants are a finicky bunch, and so are grocery store chains or companies that want to ship goods by truck.I have been stunned that Uber executives aren’t pressed to justify the strategic and financial efficiencies among their various businesses. On the consumer side of the equation, I may be more likely to order Uber Eats for dinner or grocery staples if I am used to taking an Uber car ride. But it’s not clear there is overlap on the supply side among ersatz taxi drivers, restaurants, grocery stores and other retailers. Does Uber’s expertise in matching drivers with riders really help the company build or hook into point-of-sale systems for restaurant orders and make sure owners get the support they need? Can it help a grocery store with inventory management, staffing changes or other complexities when adding home delivery to a conventional physical store? Cornershop’s built-up experience in that area won’t go away, but neither is it clear whether Uber’s ownership will help.Nor has Uber ever said whether the people driving passengers around are the same ones picking up restaurant orders or groceries for delivery. For one thing, in many big cities — including many of the ones that Cornershop serves — deliveries of food or groceries are done by motorbike or bicycle because that’s more efficient in traffic-clogged areas. Is that courier on a scooter delivering a sack of bread and milk in Mexico City one minute and then taking someone to the airport the next?And it is difficult to imagine how the particulars of Uber’s model will ever make for an efficient grocery delivery operation compared with what more specialized players will offer. Compare it, for example, with Ocado Group Plc, the British company that has been an early innovator in this space and will soon deploy its technology in the U.S. through a partnership with grocery behemoth Kroger Co.Ocado’s delivery vans are designed for ferrying fresh food efficiently. Vehicles have separate compartments for items that must be kept chilled. Totes are loaded into them in a specific order based on the driver’s route. The heaviest totes are placed in the middle racks within the van, making it easier for the driver to unload than if they had to be pulled down from a high shelf or hoisted off the floor.It defies logic that a fleet of contract workers at the helm of wildly different vehicles will be able to deliver grocery orders as productively. And that matters enormously for the profitability of these orders.The big conundrum for Uber is it must keep expanding, even if it doesn’t work. Growth has significantly slowed in Uber’s core business of rides on demand, which makes it essential for the company to find fresh, higher-growth businesses. (That may explain why Uber shares are trading higher on the Cornershop news.) This was also a company predicated on having a global reach and for which car rides were billed as the start of a sprawling empire to move people or goods in every imaginable way.Sprawl, growth and ambition are how Uber could justify a rapidly increasing valuation up to what investment bankers pitched as a possible valuation of $120 billion in an initial public offering. To put it mildly, Uber has not delivered. The share price has fallen about 33% since the IPO in May, and the stock is even below the level at which Uber sold shares in private transactions nearly five years ago. Ouch. The company has become a poster child for overinflated tech startups.A big reason Uber has been a flop for investors is the company has not made an effective case for its financial viability — even in its most established category of car rides. So it’s odd that Uber would make forays into additional logistically tricky and financially uncertain categories such as groceries without having a better story to tell. \--With assistance from Sarah Halzack.To contact the author of this story: Shira Ovide at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
An analyst who tracks Kroger Co. has downgraded the stock, saying his firm is “checking out” of the company amid waning confidence in its strategy.
Jefferies’ Christopher Mandeville cited declining confidence in the chain’s “long-term grocery strategy and management’s ability to effectively communicate.”
Kroger Co. was downgraded to hold from buy at Jefferies, with analysts expressing diminished confidence in the grocer's ability to turn its partnership with Ocado Group PLC into growth. In May 2018, the two companies announced that Kroger had taken a 5% stake in Ocado through a $247 million stock purchase. The technology deal includes automated warehouses and other measures. Jefferies analysts say the tie-up has been "costly" and "risky," that pricing versus Kroger's grocery competitor Walmart Inc. hasn't improved, and there are no drivers for same-store progress in fiscal 2020. Jefferies said the deal "is a poor and significant long-term capital allocation misstep when compared to micro-fulfillment." Jefferies lowered its price target to $26 from $29. "Chances of a meaningful resurgence in same-store sales are slim given management's inability to effectively articulate a sound strategy to revive its core biz and our belief that superior retailers like Walmart will continue to realize outsized share gains," the note said. Kroger stock is down 1.8% in Thursday premarket trading, and down 10.8% for the year to date. The S&P 500 index has gained 16.5% for 2019 so far.
Cincinnati-based grocery store chain The Kroger Co. (NYSE: KR) has closed on a 56-acre plot of land in southern Dallas where it intends to build a 360,000-square-foot distribution center and bring 400 jobs, the company confirmed Tuesday. Kroger closed on the property near the northwest corner of Telephone and Bonnie View Roads, which it bought from a joint venture between Atlanta-based Ridgeline Property Group and Houston-based Archway Properties. JLL’s Terry Darrow, Elizabeth Jones, Forshey Hoobler and Brian Leonard represented Kroger, while CBRE’s Nathan Lawrence and Krista Raymond represented the seller.
Supermarket giant Kroger (KR) became the latest retailer to discontinue the sale of electronic cigarettes amid regulatory scrutiny.
Harley-Davidson, Oracle, Walgreens, Kroger, PG&E and Activision Blizzard are the companies to watch.
Target's (TGT) initiatives such as the development of omni-channel capacities, diversification and localization of assortments, and emphasis on flexible format stores bode well.
This collaboration is in line with Walgreens' (WBA) commitment toward providing affordable and convenient healthcare facilities to residents of North Carolina.
E-cigarettes and other vaping products have been linked to a mysterious lung illness that is reported to have led to 18 deaths as of last week, with the number of confirmed and probable cases of the condition exceeding 1,000, according to the U.S. Centers for Disease Control and Prevention (CDC). Kroger said it would discontinue sales of e-cigarettes at its stores and fuel centers after selling through its current inventory.
Kroger Co. said Monday that it will stop selling e-cigarettes at all stores and fuel centers. The change comes "due to the mounting questions and increasingly complex regulatory environment associated with these products," a Kroger spokesperson said in a comment. "The company will exit this category after selling through its current inventory." Walmart Inc. has also stopped selling e-cigarettes. There have been more than 800 confirmed and probable cases of vaping-related breathing illness, according to the Centers for Disease Control, and vape sales are falling. Kroger stock has fallen 14.4% over the last year while S&P 500 index is up 2.1% for the period.
Online retail giant Amazon is planning to add several retail grocery stores to its fast-growing roster of physical locations, stepping up the competition with Kroger and other supermarket operators.
The country’s largest operator of traditional supermarkets is laying off hundreds of store managers and it appears to be doing so in Arizona as well.