March 12, 2008 |
Kroger Co.'s quarterly profit tumbled 16% and its sales rose a slim 2% as it battled rising costs and tougher grocery competition. The fiscal fourth-quarter results Tuesday still beat Wall Street estimates, but the 2008 forecast from the nation's largest traditional grocery store chain fell short of analysts' expectations. Cincinnati-based Kroger, operator of Ralphs and Food 4 Less, said it earned $322.9 million, or 48 cents a share, for the quarter ended Feb. 2, down from $384.
October 13, 2007 |
Kroger Co., the biggest U.S. grocery chain, said union employees at its Food 4 Less unit in Southern California ratified a contract. The four-year contract, effective immediately, covers more than 5,700 employees represented by the United Food and Commercial Workers, Cincinnati-based Kroger said. Southern California unions in July ratified contracts at Kroger's Ralphs, Supervalu Inc.'s Albertsons and Safeway Inc.'
July 1, 2007 |
Kroger Co., the nation's largest traditional grocery company and operator of the Ralphs chain in Southern California, is marketing a new milk brand for its cholesterol-reducing potential. The product, under Kroger's Active Lifestyle brand, is billed as the first national launch of a cholesterol-cutting milk. It adds to Kroger's expanding lines for consumers of health-conscious and natural or organic foods and the in-house brands that the company sees as an important part of its profit strategy.
March 14, 2007 |
Kroger Co. said Tuesday that its fourth-quarter profit rose 36% as the nation's largest traditional grocer continued to record impressive gains. Earnings rose to $384.8 million, or 54 cents a share, for the quarter that ended Dec. 31 from $282.1 million, or 39 cents, a year earlier. Revenue grew 15% to $16.86 billion. Excluding a gain of 3 cents a share from adjusting certain deferred tax balances, the company earned 51 cents a share in the latest period.
December 6, 2006 |
Kroger Co.'s stock jumped Tuesday after the parent of the Ralphs grocery chain said its quarterly earnings rose 16% and it raised its outlook for the year. Kroger credited price cuts, wider varieties of foods and merchandise and improved customer service for its growth. The Cincinnati-based company, the nation's largest traditional grocery chain, is facing tough competition from discount chains led by Wal-Mart Stores Inc. and from higher-end niche players such as Whole Foods Market Inc.
September 13, 2006 |
Ralph's parent Kroger Co. said Tuesday that its profit rose 6% in its second quarter, aided by higher fuel prices that have consumers looking at supermarkets -- instead of restaurants -- to feed their families. However, Kroger shares tumbled 5.5% as it confirmed its earnings guidance for the full year at a level slightly below Wall Street's expectations. On Monday, shares hit a 52-week trading high.
July 26, 2006 |
Walt Disney Co. and Kroger Co., the largest U.S. supermarket chain, said they would expand sales of Disney-branded fruits and vegetables nationwide as demand for healthier products for children rises. About 2,500 Kroger, Ralph's, Fry's and Fred Meyer stores will sell food labeled with superheroes from "The Incredibles" and characters such as Mickey Mouse, Burbank-based Disney said.
June 21, 2006 |
Ralphs grocery chain parent Kroger Co. said Tuesday that fiscal first-quarter profit rose 4.1% as price cuts spurred sales. Net income for the period ended May 20 increased to $306.4 million, or 42 cents a share, from $294.3 million, or 40 cents, a year earlier, Cincinnati-based Kroger said. Sales jumped 8.2% to $19.4 billion.
December 1, 2005 |
A U.S. appeals court ruled Wednesday that a financial mutual-aid pact among the three grocery chains involved in the Southern and Central California labor dispute last year could be challenged on antitrust grounds, a spokesman for state Atty. Gen. Bill Lockyer said. Lockyer filed a lawsuit alleging that the agreement -- under which the chains shared nearly $150 million to help one another during the strike and lockout -- violated U.S. antitrust laws.
November 7, 2005 |
The Southern California grocery industry, upended two years ago by a bitter labor dispute, is poised for another round of shopper-rattling turmoil. The catalyst this time is ailing Albertsons Inc., which has put itself up for sale and reportedly drawn interest from several parties, including Kroger Co., whose Ralphs grocery chain is among Albertsons' arch-rivals.