The Kroger Company, or simply Kroger, is an American retail company that operates (either directly or through its subsidiaries) supermarkets and multi-department stores throughout the United States. Kroger shares are listed on the NYSE and are a component of the S&P500.
Founded by Bernard Kroger in 1883 in Cincinnati, Ohio, Kroger operates a total of 2,726 grocery retail stores under its various banners and divisions in 35 states and the District of Columbia with store formats that include hypermarkets, supermarkets, superstores, department stores, and 137 jewelry stores (782 convenience stores were sold to EG Group in 2018). Kroger operates 33 food processing or manufacturing facilities, 1,613 supermarket fuel centers, 2,525 pharmacies, and 225 The Little Clinic in-store medical clinics.
Kroger is the United States’ largest supermarket chain by revenue and the second-largest general retailer behind Walmart.
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Berkshire Hathaway owns an 8.4% share in Kroger Co. This totals a value of $3.5B and makes up 1% of the company’s total portfolio.
Kroger shares look setup for a nice move over the next weeks. The current pattern on the daily chart is a textbook bull flag.
What next for Kroger?
“We’ve got the worst inflation in decades, which is bad news for the whole industry except Kroger, which we know is coping just fine with inflation and even has expanding gross margins,” the “Mad Money” host, Jim Cramer, said.
Kroger also recently entered into a strategic collaboration with Nvidia Corp for artificial intelligence-enabled applications and services. The parties will build a state-of-art AI lab and demonstration center to expand Kroger’s freshness initiatives and improve shipping logistics.
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