Kroger (KR) Facilitates EBT Payment for SNAP Online Groceries
In a significant move aimed at increasing access to fresh, healthy foods for all Americans, The Kroger Co. KR announced that it now accepts Electronic Benefit Transfer (“EBT”) payments for digital pickup and delivery orders at Kroger Family of Stores nationwide. This expansion of services under the Supplemental Nutrition Assistance Program (“SNAP”) is set to make a meaningful impact on the lives of many, furthering Kroger's commitment to providing quality, nutritious food to all.
Kroger has been facilitating the use of SNAP benefits for its customers for years, but this latest development represents a significant step forward. Working in collaboration with the U.S. Department of Agriculture Food and Nutrition Service, Kroger has extended EBT digital acceptance across all its banners. This enhancement empowers customers to leverage their benefits when purchasing through the Kroger app or the Kroger.com platform, encompassing both pickup and delivery services.
The availability of SNAP payments online simplifies the process for customers, making it easier than ever to purchase fresh and nutritious foods. Additionally, customers can access nutritional information and healthy options through Kroger's OptUP nutrition rating system, free of charge.
To initiate the process of making digital orders, customers need to create an account using the Kroger app or the Kroger.com website. Once the account is created, customers need to add an EBT account number as a new card within the "My Account" and "Wallet" sections. Then, customers can fill the cart with items that qualify for SNAP benefits, select a convenient Pickup or Delivery time and proceed to checkout. During the checkout process, one needs to select EBT as the payment method and enter the PIN to confirm the order.
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Stock Performance
Shares of Kroger have slid 8.4% in the past six months against the industry’s rise of 6%. Kroger appears to be navigating a tough operating environment. Factors such as inflation and the current economic backdrop, particularly a higher-interest-rate scenario, have posed challenges, predominantly for budget-conscious consumers.
Despite these headwinds, Kroger's well-defined customer segmentation strategy, emphasis on value and focus on its 'Our Brands' portfolio are expected to provide resilience. This Zacks Rank #3 (Hold) company remains committed to its core strengths, including an array of fresh products, personalized shopping experiences and a seamless digital ecosystem, all aimed at sustaining its momentum.
3 Stocks Looking Red Hot
Here, we have highlighted three better-ranked stocks, namely Grocery Outlet GO, Ross Stores ROST and Walmart WMT.
Grocery Outlet, an extreme value retailer of quality, name-brand consumables and fresh products, currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Grocery Outlet’s current financial-year sales and earnings suggests growth of 11.2% and 4.9%, respectively, from the year-ago reported numbers. GO has a trailing four-quarter earnings surprise of 14.3%, on average.
Ross Stores, which operates off-price retail apparel and home fashion stores, currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Ross Stores’ current financial-year sales and earnings indicates growth of 7.1% and 19.4%, respectively, from the year-ago reported numbers. ROST has a trailing four-quarter earnings surprise of 11.4%, on average.
Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Walmart’s current financial-year sales and earnings implies growth of 5% and 2.2%, respectively, from the year-ago reported numbers. WMT has a trailing four-quarter earnings surprise of 11.6%, on average.
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