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Kroger : and Home Chef Expand Nationwide Retail Rollout and Launch Customizable Meal Kit Feature for Online Orders

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02/12/2019 | 08:44am EST

CINCINNATI and CHICAGO-- 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 we're now expanding to add the easy-to-prepare recipes to hundreds of new locations, providing convenient access to the meal solution at more than 700 stores. We look forward to the continued growth of Home Chef in 2019 through expansion and new products.'

'Home Chef is proud to continue our evolution toward becoming more than a meal kit delivery brand,' said Pat Vihtelic, Home Chef's founder and CEO. 'With continued innovation and personalization, we are providing customers with more ways to enjoy fresh, delicious meals that align with their individual tastes.'

'What's for Dinner Tonight?'

Home Chef's fresh, pre-portioned ingredients and simple recipes are guaranteed to delight everyone around the dinner table. Each week's rotating retail menu showcases a variety of classic meals, including Home Chef Express meal kits that can be prepared in 15 minutes or less. Each meal kit is designed to serve two and starts at $8.50 per serving.

Home Chef retail meal kits are currently available in Kroger Family of Stores across multiple markets, including Illinois (Mariano's), Kentucky (Kroger), Michigan (Kroger), Ohio (Kroger, Cincinnati), and Wisconsin (Pick 'n Save and Metro Market). The latest expansion is underway and by the end of February, customers can purchase Home Chef retail meal kits in the existing markets and Arizona (Fry's and Smith's); California (Ralphs); Colorado (King Soopers); Idaho, Montana, Nevada, New Mexico, Utah, Wyoming (Smith's); Indiana (Kroger); Ohio (Kroger, Columbus); Oregon and Washington (Fred Meyer and QFC); Tennessee (Kroger, Nashville); and Texas (Kroger). For more information about store locations, visit homechef.com/grocery, which is regularly updated to reflect where meal kits are available. Home Chef meal solutions are also available for pickup and delivery at participating locations.

Customize It: Have Your Home Chef Meal, Your Way

Home delivery customers continue to enjoy the convenience of having Home Chef meals delivered directly to their home via homechef.com. Home Chef's newly-launched Customize It feature empowers customers to personalize some of their favorite easy-to-prepare recipes. Customers can now swap, double, or upgrade ingredients on many of their favorite recipes.

The Customize It feature expands on Home Chef's commitment to provide customers increased variety through options like Home Chef's no-cook 5-Minute Meals, delicious dinners, and add-ons like fresh smoothies. Visit homechef.com for the weekly online menu offerings.

'Our customers asked for more ways to customize their Home Chef meals, and we listened,' Vihtelic added. 'We are excited to be the first leading meal kit company to introduce these new Customize It choices for everyone seeking the same great Home Chef meals with even more variety and choices.'

To view photography of the retail meal kits and Customize It dishes, visit here.

About Kroger

At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: to Feed the Human Spirit. We are nearly half a million associates who serve over nine million customers daily through a seamless digital shopping experience and 2,800 retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.

About Home Chef

Home Chef is one of the largest meal kit delivery companies in the U.S., with over 3 million meals delivered each month. Founded in 2013, Home Chef offers fresh, pre-portioned ingredients and easy to follow recipes delivered weekly and is designed for anyone to be able to cook and everyone to enjoy. The Chicago-based company delivers nationwide. For two years running, Home Chef has been rated #1 in customer satisfaction among leading meal kit companies, according to Market Force Information U.S. Grocery Benchmark Study. Home Chef is a subsidiary of The Kroger Co. Find out more and get cooking at www.homechef.com. Follow us on Twitter, Instagram and Facebook for live updates and delicious inspiration.

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2019 122 B
EBIT 2019 2 870 M
Net income 2019 2 886 M
Debt 2019 14 412 M
Yield 2019 1,85%
P/E ratio 2019 7,92
P/E ratio 2020 13,04
EV / Sales 2019 0,31x
EV / Sales 2020 0,30x
Capitalization 23 533 M
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Technical analysis trends KROGER
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Income Statement Evolution
Mean consensus HOLD
Number of Analysts 25
Average target price 30,6 $
Spread / Average Target 3,6%
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W. Rodney McMullen Chairman, President & Chief Executive Officer
Michael Joseph Donnelly Chief Operating Officer & Executive Vice President
J. Michael Schlotman Chief Financial Officer & Executive Vice President
Christopher T. Hjelm Chief Information Officer & Executive VP
Bobby S. Shackouls Independent Director
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