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MarketScreener Homepage  >  Equities  >  Nyse  >  Kroger    KR

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Kroger : and Ocado Break Ground on Automated Customer Fulfillment Center

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06/12/2019 | 03:32pm EDT

By Aisha Al-Muslim

Supermarket operator Kroger and online grocer Ocado have broken ground on their first automated customer fulfillment center in the U.S., part of Kroger's strategy to expand further into grocery delivery.

The U.S.'s largest supermarket chain is building the first high-tech warehouse facility in Monroe, Ohio, with digital and robotic capabilities. Cincinnati-based Kroger is investing $55 million to build the 335,000 square-foot center.

"Our partnership with Ocado will introduce transformative ecommerce, fulfillment and logistics technology in the U.S.," Rodney McMullen, Kroger's chairman and chief executive, said in prepared remarks.

The new Southwest Ohio facility is expected to create more than 400 jobs. It is expected to become operational in spring 2021.

Kroger intends to open 20 customer fulfillment centers, the company said. Two additional sites have been selected in Central Florida and the Mid-Atlantic.

Ocado Solutions is a division of U.K.-based automated-grocery company Ocado Group PLC that Kroger has invested in to build a network of automated warehouses for online retail in the U.S.

In May 2018, Kroger and Ocado announced their alliance to bring Ocado's technologies to the U.S.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
KROGER -0.49% 24.12 Delayed Quote.-11.82%
OCADO GROUP PLC -1.48% 1302.5 Delayed Quote.67.34%
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Financials (USD)
Sales 2020 123 B
EBIT 2020 2 837 M
Net income 2020 1 857 M
Debt 2020 13 154 M
Yield 2020 2,49%
P/E ratio 2020 10,3x
P/E ratio 2021 10,5x
EV / Sales2020 0,27x
EV / Sales2021 0,26x
Capitalization 19 424 M
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Technical analysis trends KROGER
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 27,46  $
Last Close Price 24,25  $
Spread / Highest target 48,5%
Spread / Average Target 13,2%
Spread / Lowest Target -17,5%
EPS Revisions
Managers
NameTitle
W. Rodney McMullen Chairman & Chief Executive Officer
Michael Joseph Donnelly Chief Operating Officer & Executive Vice President
Gary Millerchip Chief Financial Officer & Senior Vice President
Yael Cosset Chief Information Officer & Senior Vice President
Bobby S. Shackouls Independent Director
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