The Kroger Co. hosted the company’s 2022 Business Update on March 4 in Orlando, Florida, where management provided an update on the company’s strategy of leading with fresh and accelerating with digital. Following the event, Kroger hosted an in-person tour of the company’s customer fulfillment center in Groveland, Florida.
“As we reflect on the past year since our last update, I am incredibly proud of the way our nearly half a million associates across the country have continued to live our purpose to feed the human spirit and provide fresh food to our communities,” said Rodney McMullen, Kroger’s chairman and CEO.
“Kroger is stronger than ever before, and the investments we have made in innovation, technology, partnerships and our people provide us with a clear path for growth. As we look to the future, we are leaning into the strength of our core assets and our competitive moats to convert structural change coming out of the pandemic into lasting, competitive advantages that will drive sustainable growth and profitability for the long-term.”
During the company’s business update, Kroger’s leadership team discussed the following key themes with investors:
- Growing its core food business through its competitive moats – fresh, Our Brands, personalization and seamless, which continue to enhance customer loyalty and attract new customers;
- Creating an ecosystem and enabling the company to enter into new geographies and serve more customers.
- Delivering against its strong and sustainable total shareholder return model and remains committed to delivering total shareholder return of 8-11 percent over time; and,
- Continuing to deliver on its “Zero Hunger, Zero Waste” commitment that is part of the company’s environmental, social and governance strategy.
“Driven by heightened food demand and our consistent execution over the last two years, our team has delivered results that are significantly above what our TSR model contemplates,” said Gary Millerchip, Kroger’s CFO. “We expect to continue to build off of this higher base, and we remain committed to delivering TSR of 8 to 11 percent over time.”
A replay of the presentation is be available online at ir.kroger.com.
Kroger announced during the presentation its entry into three new cities and regions. To read the full story by The Shelby Report, click here.
