Tag: $Kroger

Kroger Co. plans to name Greg Foran as the supermarket chain’s next chief executive officer, according to a person familiar with the matter, as the nation’s largest grocer looks to carve a new path after a failed megadeal and an unexpected exit of its former boss.

Kroger missed Wall Street estimates for third-quarter sales on Thursday as price-sensitive shoppers and economic uncertainty weighed on demand for its groceries and fresh produce.

Shares in Ocado (OCDO.L), the online supermarket and technology group, fell sharply on Friday after U.S. partner Kroger (KR.N), signalled a potential retreat from investment in automated warehouses.

Kroger Co. reported second-quarter earnings that exceeded analyst expectations, driven by strong identical store sales growth and improved margins, prompting the grocery chain to raise its full-year outlook.

Kroger (KR.N), raised its annual identical sales forecast on Friday, betting on robust demand for groceries at its stores even as consumers deal with still-high inflation.

Kroger on Thursday forecast annual same-store sales largely above Wall Street estimates, fueled by steady grocery demand as value-conscious shoppers prioritize staples such as fresh fruits and vegetables.

Kroger said on Wednesday PepsiCo executive David Kennerley would succeed Todd Foley as the company’s chief financial officer, effective April 3.

A federal district court judge in Oregon has issued a preliminary injunction blocking Kroger’s planned acquisition of Alberstons, in a deal valued at more than $24 billion. The suit was brought by the Federal Trade Commission, eight states, and the District of Columbia.

Kroger Co.’s stock rose 1% premarket Thursday, after the grocery chain beat profit estimates for the second quarter to offset sales that fell slightly short.

Kroger Co.’s stock rose 2.5% early Thursday, after the grocery chain posted better-than-expected fiscal first-quarter earnings and backed its guidance.

Kroger on Friday said it has agreed to pay $1.2 billion to U.S. states, subdivisions and Native American tribes to settle the majority claims that it fueled the opioid epidemic through lax oversight of its pill sales.