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MarketScreener Homepage  >  Equities  >  Nyse  >  Kroger    KR

KROGER

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Kroger : taps ClusterTruck for dark kitchen partnership

10/15/2020 | 01:41pm EST

The Kroger Co. is teaming up with ClusterTruck, a software platform for delivery-only kitchens, on Kroger Delivery Kitchen, a service that will serve both urban and suburban markets.

The goal is delivery of freshly prepared meals off multiple menus from one central scratch kitchen, according to a press release.

It is initially rolling out in Carmel, Indiana, Indianapolis and Columbus Ohio. The two partners are jointly launching a fourth kitchen in Carmel. King Soopers Delivery kitchen, also run by ClusterTruck, will serve Denver customers, according to the release.

"The way our customers order and receive meals is evolving, and ClusterTruck's innovative culinary and digital design is cracking the code for the future of profitable meal delivery," Kroger CIO Yael Cosset said in the release. "Kroger is leveraging ClusterTruck's advanced technology to ensure our customers don't have to sacrifice quality and value for convenience when it comes to meal delivery. Kroger Delivery Kitchen Powered by ClusterTruck will allow our customers to access restaurant-quality fresh and delicious meals like never before and without having to pay excessive service or delivery fees."

Customers in Carmel, Indianapolis and Columbus delivery zones can go to KrogerDeliveryKitchen.com to place orders or download the ClusterTruck app. Customers in Denver can visit KingSoopersDeliveryKitchen.com.

ClusterTruck, co-founded in 2015, launched its first kitchen in 2016. Its dark kitchens are powered by a software system that uses custom algorithms to optimize kitchen and delivery operations. This approach ensures that nearly every order is in the hands of the customer within 7 minutes of the meal's preparation. The average time between placing an order and a customer receiving their food is less than 30 minutes.

"Our recipe for success has been a blend of cutting-edge software combined with high-quality ingredients and delicious variety," Chris Baggott, ClusterTruck co-founder and CEO, said in the release. "This winning combination has allowed us to thrill customers across the country, while achieving profitability. We're excited to partner with Kroger to redefine the food experience for their valued customers."

Copyright © 2020 Networld Media. All rights reserved., source Industry News

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Financials (USD)
Sales 2021 133 B - -
Net income 2021 2 710 M - -
Net Debt 2021 12 471 M - -
P/E ratio 2021 8,57x
Yield 2021 2,06%
Capitalization 25 575 M 25 575 M -
EV / Sales 2021 0,29x
EV / Sales 2022 0,29x
Nbr of Employees 435 000
Free-Float 40,1%
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 36,06 $
Last Close Price 33,00 $
Spread / Highest target 30,3%
Spread / Average Target 9,28%
Spread / Lowest Target -21,2%
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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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