Latest news with #DavidKennerley
Newsweek
09-07-2025
- Business
- Newsweek
Kroger Stores Make Change to Coupon Policy
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Kroger, one of the United States' largest supermarket chains, introduced a new policy at select stores that allows shoppers to access digital-only discounts via printed flyers, addressing concerns from those unable to benefit from online coupons. A spokesperson for Kroger told Newsweek: "We are always listening to our customers to create a better shopping experience. To make it simpler for our customers to take advantage of the full value our stores offer, we are providing an easy-to-use flyer that customers can scan to save with digital coupons." FILE - A customer loads his truck after shopping at a Kroger grocery store on September 09, 2022 in Houston, Texas. FILE - A customer loads his truck after shopping at a Kroger grocery store on September 09, 2022 in Houston, It Matters The shift underscores the ongoing challenge posed by the digital divide, particularly among the elderly and lower-income shoppers. Digital-only coupon systems left out those who lacked reliable internet or smartphones, creating a disparity in grocery pricing and access to essential savings. According to two 2021 Pew Research Center reports, one in four adults aged 65 and over did not use the internet in 2021, and 13 percent of adults in low-income households lacked access to the internet whether through a smartphone or broadband, resulting in missed savings opportunities. What To Know Printed "Weekly Digital Deals" sheets are now available at entrances and customer service desks in participating Kroger-operated stores, including QFC and Fred Meyer locations in Seattle, according to a report by KOMO News. With these sheets, customers can scan a single barcode at checkout to access all advertised discounts, streamlining a process that otherwise required internet access and a smartphone. The new printed deal option has not yet been implemented chain-wide across all Kroger-owned grocery stores, the report said. During a recent earnings call, Kroger executives recognized the need for promotions that are "simple and accessible for all customers" but have not detailed a timeline or plan for company-wide implementation of the printed deals option. Earlier this year, Kroger was voted the 5th most trusted grocery and convenience store in the U.S. in Newsweek's 2025 ranking of America's Most Trustworthy Companies. "We work to earn trust every day by delivering great quality food at low prices," said Ron Sargent, Kroger's chairman and CEO. What People Are Saying Kroger CFO David Kennerley said during the earnings call: "Rather than a customer having to get out their phone to get a digital coupon in-store, we're trying to make the customer experience in-store much easier for them." Edgar Dworsky, founder of Consumer World, Checkbook, per KOMO News: "Kroger is finally doing something good for consumers who have been cut out of being able to use digital coupons." What Happens Next The Kroger spokesperson didn't specify which store brands and locations had adopted the printed "Weekly Digital Deals" flyers, or if the initiative was permanent.
Yahoo
09-07-2025
- Business
- Yahoo
Kroger turns to AI for inventory security, experience boosts
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Kroger will continue investing in AI as tools enable better product visibility and productivity, leading to reduced inventory loss or shrink and improved talent retention, executives said during the grocer's Q1 earnings call in June. 'We've seen good progress [around shrink],' SVP and CFO David Kennerley said during the call. 'What we really attribute this to is we've made some investments in some AI-enabled technology and deployed new processes around that technology.' The company also launched a virtual AI assistant for its associates, which it partly credited for record levels of store and company retention during the quarter. 'When our associates stay longer, they learn more, take on additional responsibilities and deliver a better customer experience, which leads to better sales,' said interim CEO Ron Sargent. Kroger is doubling down on AI while keeping savings top of mind, joining a cost-conscious group of businesses making similar moves. The grocer will close 60 underperforming stores by the end of next year as it reassesses capital allocation and 'aggressively' finds ways to reduce costs throughout the company, according to the earnings call. Kroger sees AI and other technologies as part of the solution, too. 'The other thing that will also contribute towards better cost performance is what I call ways of working and process improvement,' Kennerley said. 'There's a lot of opportunity here to work smarter, more efficiently, more tech-enabled, and we've already got some good proof points on that.' Excluding fuel, identical-store sales ticked up 3.2% during Q1 2025, which ended May 24, compared with the same period last year. Kroger characterizes a store as identical if it operates without expansion or relocation for five full quarters. Kroger's once-sought-after merger partner, Albertsons, has similarly sharpened its technology focus while eyeing cost-saving measures. 'Our North Star is to use technology in everything that we do,' Albertsons CEO Susan Morris said during the company's Q4 2024 earnings report in April. As part of the strategy, the Idaho-headquartered grocer plans to increase AI use to enhance product quality and monitoring for freshness as it looks to drive higher sales and better customer experiences. The efforts also align with Albertsons' three-year plan to cut $1.5 billion in costs that rolled out after the merger failed.
Yahoo
21-06-2025
- Business
- Yahoo
The Kroger (KR) Surges 9.8% on Optimistic Sales Growth Outlook
The Kroger Co. (NYSE:KR) is one of the Kroger rallied by 9.84 percent on Friday to finish at $71.97 apiece as investor sentiment was buoyed by its optimistic sales outlook despite macroeconomic uncertainties. In a statement, The Kroger Co. (NYSE:KR) Chief Finance Officer David Kennerley said that strong sales results in the first quarter of the year has pushed the management to raise its identical sales guidance, without the impact of fuel, by 2.25 percent to 3.25 percent. Outlook for other elements, however, remained unchanged. Net earnings per share were reaffirmed at a range of $4.6 to $4.8, while capital expenditures were pegged at $3.6 billion to $3.8 billion. A customer buying an item at a checkout counter in a grocery store. In the first quarter of the year, The Kroger Co. (NYSE:KR) dropped its attributable net income by 8.5 percent to $866 million from $947 million in the same period last year. Sales remained flat at $45 billion. While we acknowledge the potential of KR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
20-06-2025
- Business
- Yahoo
Major Supermarket Chain Confirms 60 Stores Will Close–Here's When
Major Supermarket Chain Confirms 60 Stores Will Close–Here's When originally appeared on Parade. A major supermarket chain is joining the unfortunate, ever-growing list of retailers closing stores. On Friday, while delivering its first quarter results, Kroger said it will close dozens of stores in the near future, according to a June 20 announcement, which explained the "approximately 60 stores" closing were doing so under "planned" circumstances and not like some other retailers that surprised fans when they suddenly shut down. The super grocer said it does not foresee the closures impacting shoppers all too much (other than maybe where they shop) and it is "committed to reinvesting" any financial benefits related to shutting down the locations "back into the customer experience." Related: Kroger also confirmed it will offer roles to all associates currently employed at stores it plans to close, so long as they can make the new commute work. Chairman and CEO Ron Sargent is hopeful that the company's decision and its "commitment to driving growth in our core business" will position Kroger well for the future, sharing in a statement, "We are confident in our ability to build on our momentum, deliver value for customers, invest in associates and generate attractive returns for shareholders." Kroger CFO David Kennerley also said the company's decision to focus on its own brands and its online presence positions it "well to navigate the current environment." The nationwide grocer is one of the largest supermarket chains in the U.S. and currently operates over 2,700 stores nationwide. Which stores it plans on closing and why remains unclear. What we do know is that, according to the official announcement, Kroger will phase out the stores "over the next 18 months," meaning the affected stores will open their doors one last time by the end of December 2026. Next: Major Supermarket Chain Confirms 60 Stores Will Close–Here's When first appeared on Parade on Jun 20, 2025 This story was originally reported by Parade on Jun 20, 2025, where it first appeared.
Yahoo
20-06-2025
- Business
- Yahoo
Why Shares of Kroger Are Surging Today
Kroger reported its first-quarter earnings. Results were mixed, but forward guidance impressed. 10 stocks we like better than Kroger › Shares of the large grocer and retail department chain Kroger (NYSE: KR) had surged by roughly 10%, as of 12:38 p.m. ET today, after the company reported earnings for the first quarter of 2025. Kroger reported adjusted earnings per share of $1.49 for the three months ending May 24 on total revenue of $45.1 billion. Adjusted EPS beat Wall Street estimates, while revenue came in just shy of them. Perhaps more importantly, management maintained its full-year earnings outlook and raised its full-year revenue outlook. Kroger's CFO David Kennerley said in an earnings statement: Our strong sales results and positive momentum give us confidence to raise our identical sales without fuel guidance, to a new range of 2.25% to 3.25%. While first-quarter sales and profitability exceeded our expectations, the macroeconomic environment remains uncertain, and as a result, other elements of our guidance remain unchanged. Kroger certainly surprised investors and is being rewarded right now. The positive news also comes as the company is continuing its search for a new CEO after former CEO Rodney McMullen resigned from his post in March. The company's board of directors earlier this year conducted an investigation into McMullen that concluded "his personal conduct that, while unrelated to the business, was inconsistent with Kroger's Policy on Business Ethics." Kroger's forward price-to-earnings multiple of 15 is toward the bottom of its peer group, and it is a consumer staples stock, making it a good defensive pick for any kind of looming recession. Therefore, I think investors can definitely allocate at least some capital to the name. Before you buy stock in Kroger, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Kroger wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool recommends Kroger. The Motley Fool has a disclosure policy. Why Shares of Kroger Are Surging Today was originally published by The Motley Fool 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
