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MarketScreener Homepage  >  Equities  >  Nyse  >  Kroger    KR

KROGER

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Kroger's Sales Rise after Digital Investments

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09/12/2019 | 09:52am EDT

By Jaewon Kang

Kroger Co. reported slightly higher sales in its latest quarter after recent investments in online ordering and other efforts to draw in new customers.

The increase to $28.2 billion in sales from $28 billion a year earlier was lower than the gains analysts expected though, and profit declined to $297 million, also missing forecasts.

The Cincinnati-based supermarket chain reported a 2.5% increase in same-store sales excluding fuel, up from the corresponding period a year ago and beating an estimate of 1.9% growth. Digital sales grew 31%.

Kroger's shares rose 0.8% in premarket trading on Thursday to $25.57.

The nation's largest supermarket chain is trying to keep its footing in the rapidly changing grocery industry. Like other food retailers, Kroger faces pressure to keep prices low as it invests in delivery to compete better against Amazon.com Inc. and Walmart Inc., the nation's top grocery seller.

Walmart and Target Corp. posted higher sales in their most recent quarters thanks to investments that have boosted digital sales. Discounter Grocery Outlet Holding Corp., which went public in June, unveiled ambitious plans to grow the number of its stores by 10% annually. Organic grocer Sprouts Farmers Market Inc. recently lowered its guidance for the full year as growth continues to slow.

Kroger is in the middle of a three-year plan to revive its business. The company is expanding its digital capabilities, investing in technology and making more hires. It is also overhauling stores and building automated warehouses as part of its partnership with British retailer Ocado Group PLC.

The owner of Fred Meyer, Ralphs and Harris Teeter stores has said the growth plan should generate $4 billion of free cash flow and add $400 million in operating margins by 2020 through cost savings and better sales.

Kroger is also trying to add new products to attract more customers. The 136-year-old company has added clothing items and financial services to its sales strategy, as well as new grocery items like store-branded meatless burger patties.

Stocks mentioned in the article
ChangeLast1st jan.
JUST GROUP PLC -2.06% 43.68 Delayed Quote.-43.54%
KROGER 1.11% 33.8387 Delayed Quote.15.42%
LINE CORPORATION 0.00% 5370 End-of-day quote.0.37%
NEXT PLC 0.94% 5990 Delayed Quote.-15.45%
OCADO GROUP PLC 1.28% 2839 Delayed Quote.119.16%
RISE, INC. -3.70% 26 End-of-day quote.-13.33%
SPROUTS FARMERS MARKET, INC. 0.22% 20.665 Delayed Quote.6.51%
TARGET CORPORATION 2.52% 153.59 Delayed Quote.16.89%
WALMART INC. 0.74% 138.03 Delayed Quote.15.34%
WILL GROUP, INC. 2.75% 935 End-of-day quote.-25.32%
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Financials (USD)
Sales 2021 132 B - -
Net income 2021 2 858 M - -
Net Debt 2021 13 758 M - -
P/E ratio 2021 9,19x
Yield 2021 2,02%
Capitalization 25 932 M 25 932 M -
EV / Sales 2021 0,30x
EV / Sales 2022 0,31x
Nbr of Employees 500 000
Free-Float 40,4%
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Technical analysis trends KROGER
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 36,31 $
Last Close Price 33,46 $
Spread / Highest target 28,5%
Spread / Average Target 8,51%
Spread / Lowest Target -22,3%
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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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