Recent Updates — KR
The Kroger Co. issued $650 million of 5.800% Senior Notes due 2032 and $850 million of 6.200% Senior Notes due 2036, totaling $1.5 billion in new debt securities. The company executed an underwriting agreement with Citigroup Global Markets Inc., Mizuho Securities USA LLC, and Wells Fargo Securities, LLC as representatives. Net proceeds are expected to be used to refinance debt maturing in October 2026 and for general corporate purposes. This transaction represents a significant capital market activity aimed at managing the company's near-term liquidity obligations.
The Kroger Co. reported second quarter 2026 results with total sales of $34.6 billion and identical sales excluding fuel increasing 0.2%. Operating profit was $971 million, yielding an EPS of $1.05 and adjusted EPS of $1.09. The company lowered its full-year identical sales without fuel guidance to a range of 0.2% to 0.8%, citing headwinds from the Inflation IRA Act, while reaffirming adjusted FIFO operating profit and EPS guidance ranges. Kroger repurchased $1.0 billion in shares during the quarter under a $2 billion authorization announced in December 2025, with approximately $800 million remaining. The company operates as one of America's largest retailers, serving customers through digital shopping experiences and retail food stores.
The Kroger Co. reported second quarter 2026 results with total sales of $34.6 billion and identical sales excluding fuel increasing 0.2%. Operating profit was $971 million, yielding an EPS of $1.05 and adjusted EPS of $1.09. The company lowered its full-year identical sales without fuel guidance to a range of 0.2% to 0.8%, citing a 140 basis point headwind from the Inflation Reduction Act, while reaffirming adjusted FIFO operating profit and EPS guidance. Kroger repurchased $1.0 billion in shares during the quarter under its existing authorization. The company operates in the retail grocery industry.
The Kroger Co. appointed Mark Ibbotson as Executive Vice President and Chief Store Operations Officer, effective September 14, 2026. Mr. Ibbotson brings extensive retail experience from Walmart and Asda, where he led operations, real estate, and digital transformation initiatives. His compensation package includes a $1 million annual base salary, an incentive bonus target of 110% of base, and various equity grants totaling approximately $3.5 million in restricted shares and performance units to be awarded in December 2026. He will also participate in the company's standard executive relocation program. The Kroger Co. operates as a supermarket retailer serving customers through physical stores and eCommerce platforms.
The Kroger Co. entered into a merger agreement to acquire Giant Eagle, Inc. for approximately $1.65 billion, comprising $1.25 billion in cash and $400 million in assumed liabilities. The transaction is expected to close in 2027, subject to regulatory approval and potential store divestitures. The Kroger Co. is a food and pharmacy retailer.