After hours: 7:45PM EDT
|Bid||21.56 x 4000|
|Ask||21.74 x 4000|
|Day's Range||21.59 - 22.02|
|52 Week Range||21.17 - 32.74|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||9.52|
|Earnings Date||Sep 11, 2019 - Sep 16, 2019|
|Forward Dividend & Yield||0.64 (2.91%)|
|1y Target Est||26.27|
Kroger Co. has plans to replace a West Chester Township store with a much larger Marketplace store, according to a proposal by the property’s developer.
(Bloomberg) -- Amazon.com Inc. was challenged by a top House lawmaker over whether the online retail giant is harming competition as the biggest tech companies faced their harshest antitrust scrutiny in years on Capitol Hill.Democratic Representative David Cicilline of Rhode Island, who chairs the House antitrust panel, put Amazon on the hot seat at a hearing Tuesday, suggesting its business model suffers from conflicts of interest and that it can use its control over data to thwart competition from third-party sellers on its platform.“You are selling your own products on a platform you control and they’re competing with products from other sellers,” Cicilline said.Amazon lawyer Nate Sutton denied the company uses data it collects on sales to favor its own products over third-party sellers. He also argued that it’s common in the retail industry for stores to sell their own brands that compete against others.Cicilline fired back: “The difference is Amazon is a trillion-dollar company that runs an online platform with real-time data on millions of purchases and billions in commerce and can manipulate algorithms on its platform and favor its own product -- that is not the same as a local retailer,” he said.The exchange, as Amazon’s Prime Day sales event extended into a second day, came at hearing where four of the biggest U.S. tech firms -- Amazon, Facebook Inc., Alphabet Inc.’s Google and Apple Inc. -- defended their businesses against criticism that they are too dominant. The session marked the first time the companies have faced grilling from Congress about whether they are hindering competition.Cicilline said his inquiry is still in the fact-gathering stage but the series will eventually lead to legislative steps that go beyond self-regulation.“I think it will absolutely require some action by Congress, either by way of regulation, new statutory enactments, new resources for antitrust agencies, more likely a combination of those three things,” he told reporters after the executives testified.Cicilline is bearing down on the companies as antitrust enforcers prepare their own scrutiny after a mostly hands-off approach to the industry.The Justice Department and the Federal Trade Commission, which share antitrust jurisdiction, have taken the first steps toward investigating conduct by the biggest companies by divvying up oversight with the Justice Department taking responsibility for Google and Apple, and FTC overseeing Facebook and Amazon.A report by the University of Chicago’s Stigler Center this year found that digital markets tend to be winner-take-all in which one firm comes to dominate. That creates an incentive for the companies to edge out new challengers that could threaten that dominance.Republican Jim Sensenbrenner of Wisconsin on Tuesday cautioned against calls for breaking up the big technology companies.“Just because a business is big doesn’t mean that it is bad,” he said. Antitrust laws “do not exist to punish businesses just because they are big.”All four companies repeatedly insisted that they face abundant competition, from one another and from other companies. Although Amazon controls about half of U.S. e-commerce sales, Sutton pointed out the company makes up just 4% of all retail sales, with competition from Walmart Inc. and Kroger Co., among others. Facebook’s Director of Public Policy Matt Perault pointed to competition from Apple, Amazon and Google, among others.That argument met with skepticism from lawmakers. Representative Joe Neguse, a Colorado Democrat, pointed out that Facebook has the most monthly active users worldwide of any social media platform, with its Instagram, Whatsapp, and Facebook messenger in the top six.“You can understand the skepticism because when a company owns four of the largest six entities measured by active users in the world in that industry, we have a word for that, and that’s monopoly – or at least monopoly power,” he said.\--With assistance from Daniel Stoller.To contact the reporters on this story: David McLaughlin in Washington at firstname.lastname@example.org;Ben Brody in Washington, D.C. at email@example.comTo contact the editors responsible for this story: Sara Forden at firstname.lastname@example.org, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Target's (TGT) strategic efforts help result in robust traffic, favorable store comps and surge in comparable digital sales.
Grocery Outlet Holding Corp. is poised for growth, according to Morgan Stanley analysts led by Simeon Gutman, as long as the off-price grocer can keep goods on the shelves.
Kroger's (KR) subsidiary Food 4 Less starts a new home delivery service. Groceries will be delivered at the customers' doorstep on the same day at their preferred time.
A Kroger Co. subsidiary will now deliver groceries to its customers doorsteps. Food 4 Less, based in Compton, Calif., is offering the home delivery service in conjunction with Instacart at all 129 of its locations in California, Illinois and Indiana. "We strive to provide our customers with the best shopping experience and believe that offering home delivery adds a new convenience when shopping at Food 4 Less," Bryan Kaltenbach, president of Food4Less/FoodsCo., said in a release. Customers can place their home delivery orders through the store’s website.
The growing use of ride-sharing apps is pushing the online grocery business underground, according to CommonSense Robotics, a company that is using propriety technology, including artificial intelligence, to fulfill its mission of delivering online grocery orders within one hour. CommonSense said construction on its second “micro-fulfillment” center is underway. The fulfillment center will be 18,000-square-feet with an average height clearance of just 11 feet and three temperature zones to accommodate fresh, chilled and frozen items.
LOS ANGELES, July 12, 2019 /PRNewswire/ -- Food 4 Less shoppers can now have their groceries delivered to their doorsteps thanks to a new home delivery service being offered via Instacart at all 129 Food4Less/ FoodsCo. "We strive to provide our customers with the best shopping experience and believe that offering home delivery adds a new convenience when shopping at Food 4 Less," said Bryan Kaltenbach, president of Food4Less/FoodsCo.
Its stock price has fallen some 15% since its last earnings report. Tread lightly for now but keep an eye on this grocer.
Climate activists found companies more receptive to steps like cutting emissions or buying clean power this year, a new tally of shareholder resolutions shows, a trend proponents said undercuts the case for proxy rule changes sought by business groups. Of the 145 climate-related proposals filed for this year's springtime annual meeting season, 39 percent led to deals and were withdrawn, according to Ceres, a Boston-based advocacy group that coordinates and tracks the resolutions. For instance restaurant parent Yum! Brands Inc in April agreed to track its emissions and to identify ways to reduce them, leading activists to withdraw a shareholder proposal before a shareholder vote, a company spokeswoman confirmed.
Kroger plans to open a $55 million automated fulfillment center in Forest Park that is expected to create more than 400 jobs.
Procter & Gamble Co. slipped to fourth-largest advertiser in the United States in 2018 – down from No. 2 the previous year despite spending almost as much, according to new estimates by Advertising Age.
Kroger Co. and British online grocery retailer Ocado have selected another site for the huge automated warehouse and distribution centers they’re opening around the country.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Koninklijke Ahold Delhaize N.V. Paris, July 10, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Koninklijke Ahold Delhaize N.V. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Supermarket chain Kroger Co. and Ocado Group Plc, a UK0based online grocery retailer, said Thursday they are investing $55 million in a fulfillment center in Forest Park, Georgia that will create more than 400 new jobs. The center will be an automated warehouse facility with digital and robotic capabilities and will be replicated across the U.S. Last month, Kroger broke ground on the first such center, located in Monroe, Ohio. The Georgia facility will occupy 375,000 sq. ft. and is expected to be operational by 2021. Kroger shares were not active premarket, but have fallen 21% in 2019, while the S&P 500 has gained 19%.
ATLANTA, July 11, 2019 /PRNewswire/ -- The Kroger Co. (KR), America's largest grocery retailer, and Ocado (OCDO.L), one of the world's largest dedicated online grocery retailers, today announced plans for a new high-tech customer fulfillment center (CFC) in Forest Park, Georgia, a $55 million investment that will create more than 400 new jobs. "Kroger is incredibly excited to construct one of our industry-leading Customer Fulfillment Centers in Forest Park—a city south of Atlanta—through our relationship with Ocado," said Robert Clark, Kroger's senior vice president of supply chain, manufacturing and sourcing.
The goals of the pilot program are to improve outcomes for patients, improve productivity of Kroger employees, and lower overall costs to the company health plan.
Kroger Co.’s stock has been beaten down this year, but some investment pros are bullish on its prospects for a rebound.
A company founded five years ago in Cincinnati by a then-teenager has landed its products in more than 2,000 Kroger stores.
Kroger Health, Kroger Co's health-care arm, is teaming up with Myriad Genetics to carry out a pilot of a genetic test meant to help clinicians personalize treatment for patients with depression. The test, called GeneSight, was developed by Myriad and analyzes certain genes that are known to affect how common depression drugs work on patients. Members of Kroger's health plan who have not had success with one or more antidepressant medications and who are in areas where the pilot is being offered will get information about the test from a Kroger pharmacist or in the mail. Those patients will then be referred to their health-care providers to determine whether the test might be appropriate to them. The goals of the partnership are to improve patient outcomes and employee productivity, as well as lower overall costs to Kroger health plan, Kroger said. "Our partnership with Kroger Health centers on a shared vision to help more people with depression get well sooner," said Myriad Genetics' VP of payer markets and reimbursement in a statement. "Additionally, we believe the GeneSight test will help Kroger achieve significant cost savings resulting from decreased drug spend, health care costs and enhanced employee productivity." Shares of Kroger have fallen 21% in the year to date through Tuesday, while the S&P 500 has gained 19%.
CINCINNATI, July 10, 2019 /PRNewswire/ -- Kroger Health, the healthcare arm of The Kroger Co. providing health, wellness, and nutrition solutions to more than 14 million people nationwide, announced its partnership with Myriad Genetics to pilot Myriad Genetics' GeneSight® pharmacogenomic test with Kroger Health Plan members. Nearly 500 Kroger pharmacies across five states will participate in the GeneSight pilot. GeneSight is the market-leading genetic test to help clinicians personalize treatment plans for their patients with depression.