For More on Kroger
What’s next for Kroger? The grocer's chairman and CEO Rodney McMullen will be speaking at NRF 2023, Retail’s Big Show, on Monday, January 16. Tune in to the conversation between McMullen and Matthew Shay, NRF president and CEO to hear how, in an ever-changing grocery retail environment, Kroger continues to innovate, during "Feeding the human spirit: A conversation with Kroger CEO Rodney McMullen."
Kroger has been focused on driving digital engagement, and data science is the key.
According to the company’s latest earnings call, the brand has launched several initiatives focusing on data to increase targeted personalization, get products to consumers faster (without sacrificing freshness), and grow its retail media business with improved insights.
Rodney McMullen, chairman and CEO of Kroger, said data science is particularly helping in regard to personalization.
“Customers are looking for opportunities to save on the products they love,” said McMullen. “Our loyalty programs and personalized promotions allow them to do just that.”
- Total sales: $34.2 billion (compared to $31.9 billion for Q3 2021)
- Excluding fuel, sales increased 6.4% YoY
- Gross margin: 21.4% of sales
"Kroger achieved strong results in the third quarter as we continue to execute our Leading with Fresh and Accelerating With Digital strategy. Our associates are doing an outstanding job delivering a full, fresh, and friendly experience across our seamless store and digital ecosystem. — Kroger Chairman and CEO Rodney McMullen
"Kroger's focus on delivering value for customers and our disciplined approach to managing costs in an inflationary environment led to another quarter of strong results. Our consistent execution of our go-to-market strategy continues to build momentum in our business results and gives us the confidence to raise our full-year guidance. We now expect identical sales without fuel to be in the range of 5.1% to 5.3% and adjusted net earnings per diluted share to be in the range of $4.05 to $4.15.” — Kroger CFO Gary Millerchip