The Kroger Company – Company Information
The Kroger Company is one of America’s largest supermarket chains and one of the largest retailers in the world, based in Cincinnati, Ohio.
The company was founded by Bernard Kroger in 1883.
Bernard invested his life savings to open a grocery store in the Mount Airy neighborhood of Cincinnati and his slogan was “Be particular. Never sell anything you would not want yourself.”
Kroger now operates over 2,400 supermarkets and multi-department stores (either directly or through subsidiaries), 786 convenience stores, 37 food processing plants, and 327 jewelry store in 31 states across the US – all of the company’s operations are domestic.
The company employs more than 343,000 full-time or part-time associates.
Food & Drug Stores: Baker’s Supermarkets, City Market, Dillons Food Stores (Kansas, Missouri), Fry’s Food & Drug, Gerbes Super Markets, Harris Teeter, Jay C, King Soopers, Kroger, Owen’s, Pay Less Super Markets, QFC, Ralphs, Scott’s, Smith’s
Convenience Stores: Kwik Shop, Loaf ‘N Jug, Quik Stop, Smith’s Express, Tom Thumb Food Stores, Turkey Hill Minit Markets.
Marketplace Stores: Dillons Marketplace, Fry’s Marketplace, King Soopers Marketplace, Kroger Marketplace, Smith’s Marketplace.
Multi Department Stores: Fred Meyer
Price Impact Stores: Food 4 Less, Foods Co., Ruler Foods.
Jewelry Stores: Fred Meyer Jewelers, Barclay Jewelers, Fox’s Jewelers, Littman Jewelers
- Chairman and CEO: Rodney McMullen
- Type: Public
- Listed as: NYSE: KR
- S&P 500 Component
- Headquarters: Cincinnati, Ohio, United States
- Employees: 343,000 (2013)
- Founder: Bernard Kroger
- Founded: 1883
|Key figures (in millions of USD except for share data)||2013||2012|
|Net earnings before income tax expense||$2,282||$2,302|
|Net earnings attributable to The Kroger Co.||$1,519||$1,497|
|Cash and temporary cash investments (end of year)||$401||$238|
|Earnings (loss) per share – basic||$2.93||$2.78|
|Earnings (loss) per share – diluted||$2.90||$2.77|
Source: “Kroger Reports Fourth Quarter and Full Year 2013 Results”
Rodney McMullen, Kroger’s chief executive officer, commented on the results:
“Our associates’ connection with customers fueled another year of market share growth and record earnings per share. Kroger’s Customer 1st strategy is a powerful foundation on which to continue growing and differentiating our business in 2014.”
According to the company, “during fiscal 2014, Kroger plans to use cash flow from operations to maintain its current investment grade debt rating, repurchase shares, have a growing dividend, and fund capital investments. The company expects capital investments to be in the $2.8 to $3.0 billion range for the year, including Harris Teeter.”
July 4, 2014: Kroger and Vitacost.com have agreed a takeover deal worth $280 million. The US supermarket chain says the purchase will help it sell products on the internet and compete with other companies, such as Amazon and Wal-Mart. Kroger says the deal will be financed with debt.
Update June 20, 2014: Kroger reported a 4.6% rise in sales for Q1 2014. Adjusted net income, excluding charges rose to $557 million or $1.09 per diluted share compared to last year’s same quarter’s $481 million and 0.92 respectively. According to the retailer, confidence in the economy among shoppers is rising.