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ˇ Kroger Winning the Digital Race
ˇ Kroger Is Hoarding Cash (for Now)
Kroger Winning the Digital Race
By Gina Acosta, Progressive Grocer
On the heels of a record-breaking digital performance in its first quarter, Kroger is garnering even more accolades when it comes to technology and innovation.
The grocery giant has been named to Computerworld magazine's Top 100 Best Places to Work in IT for 2020. This marks the third consecutive year that Kroger's technology and digital team has been recognized by the annual list for having an innovative, industry-leading workplace culture. This year, Kroger ranks 51st among large companies and is the only food retailer to earn the distinction.
"Our technology and digital team continues to create innovative experiences that are fundamentally changing the way we serve customers across America," said Yael Cosset, the company's chief technology and digital officer. "Kroger's relentless focus on delivering solutions focused on both customers and associates is what drives our ability to transform the shopping experience and is what makes Kroger a special place for our team."
The 100 Best Places to Work in IT list is an annual ranking of the top work environments for technology professionals by Computerworld. The list is developed based on categories like benefits, career development, and training and retention. Computerworld also conducts surveys of IT associates, and their responses are a factor in determining the rankings.
This summer, as part of its emphasis on workplace culture and developing talent, Kroger's technology and digital team is offering its first virtual summer internship program, in which more than 30 interns will work on real projects impactful to the business as well as participate in a series of virtual networking, mentorship and community service opportunities...
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Kroger Is Hoarding Cash (for Now)
The supermarket chain is taking a cautious approach to the next few months.
Demitrios Kalogeropoulos, The Motley Fool
Jun 23, 2020
Kroger (NYSE:KR) recently revealed some operating metrics that shocked investors, even considering the soaring demand in the wider supermarket industry through the early phases of the COVID-19 pandemic. Revenue jumped and profitability improved despite extra costs associated with maintaining a healthy sales environment for shoppers and employees.
In a conference call, CEO Rodney McMullen sought to tamper investors' expectations around the potential for sales growth of more than 20% to continue for much longer. Yet the broader takeaways from the quarter were positive. Let's look at some highlights.
The winning formula
"Our brands had a great quarter and grew 21.1%, driven by significant growth across our three largest brands," McMullen said. "Having identified plant-based foods as a key trend well before 2019, the Simple Truth plant-based platform continues to deliver strong growth, growing over 32% in the first quarter."
The digital sales channel was a standout performer for rival Walmart (NYSE:WMT), whose e-commerce sales rose 74% in the fiscal first quarter. Kroger notched a similarly strong result as revenue jumped 92% online.
The chain's in-store brand sales were even better news since growth there supports enduring market-share gains. Kroger said corporate brands as a group jumped 21%, led by a 32% spike in the health-food focused Simple Truth franchise.
Shifting customer priorities ...
Looking out to 2020 ...
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