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Kroger (KR) Hiring Staff for Grocery Delivery in South Florida

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The Kroger Co. KR has been making concerted efforts to provide fresh food along with exceptional delivery service to customers through its seamless ecosystem. In a recent move, this Cincinnati, OH-based company announced that it is employing more than 200 associates for grocery delivery in the South Florida market with roles in logistics and transportation.

Kroger Delivery is appointing drivers and other personnel in areas such as logistics and human resources and even offering them a host of benefits. The benefits include tuition repayment, health care assistance, mental health counseling, discounts, and other perks. The retailer currently operates Kroger Delivery service in three major Florida markets.

Management said, "Propelled by steady growth, Kroger Delivery is committed to bringing new associates on board to meet South Florida's growing grocery delivery needs, as it expands operations already available to Floridians in the greater Orlando, Tampa, and Jacksonville areas."

Clearly, customers have been opting for e-commerce solutions for their grocery and other household essentials. Given the current scenario, the company has been focusing on a no-contact delivery option, low-contact pickup service and ship-to-home orders.

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KR Fortifying Position in Industry

Kroger has been undergoing a complete makeover not only with respect to products but also in terms of the way consumers prefer shopping grocery. The company has been making significant investments to enhance product freshness and quality and expand delivery as well as digital capabilities.

In a recent update, Kroger and NVIDIA announced a strategic collaboration to build a state-of-art AI lab and demonstration center to expand Kroger's freshness initiatives, enhance shipping logistics and create a better shopping experience in stores.

We note that Kroger's digital business remains one of its key growth drivers, thanks to its Kroger Delivery Now, Boost membership program and the rollout of new customer fulfillment centers. The company's 'Kroger Delivery Now' service provides customers with food and household staples in 30 minutes. The company's partnership with Nuro, a leading autonomous vehicle company, is worth noting.

No doubt, Kroger has been adding new products as well as eyeing technological expansion. Management envisions identical sales without fuel to be up 2-3% in fiscal 2022 compared with 0.2% growth registered in fiscal 2021.

Bottom Line

We believe that Kroger's focus on fresh offerings, technology, and process improvements to lower costs, a seamless digital ecosystem and a margin-rich alternative profit business should continue contributing to growth.

Shares of Kroger have exhibited a decent run on the bourses in the past year. This Zacks Rank #1 (Strong Buy) stock has surged about 54.2% in the said period compared with the industry's growth of 17%. You can see the complete list of today's Zacks #1 Rank stocks here.

3 More Stocks You May Bet On

Here we highlight three better-ranked stocks, namely, Target TGT, Tractor Supply Company TSCO and Sprouts Farmers Market SFM.

Target, a general merchandise retailer, sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 21.3%, on average.

The Zacks Consensus Estimate for Target's current financial year sales and EPS suggests growth of 3.5% and 6.7%, respectively, from the year-ago period. TGT has an expected EPS growth rate of 16.5% for three-five years.

Tractor Supply Company, a rural lifestyle retailer in the United States, carries a Zacks Rank #2 (Buy) at present. TSCO has an expected EPS growth rate of 9.8% for three-five years.

The Zacks Consensus Estimate for Tractor Supply Company's current financial-year sales and EPS suggests growth of 8.1% and 9.1%, respectively, from the corresponding year-ago period's actuals. TSCO has a trailing four-quarter earnings surprise of 22%, on average.

Sprouts Farmers offering fresh, natural and organic food products currently carries a Zacks Rank of 2. SFM has an expected EPS growth rate of 7.3% for three-five years.

The Zacks Consensus Estimate for Sprouts Farmers' current financial-year sales and EPS suggests growth of 4.5% and 6.2%, respectively, from the corresponding year-ago period's readings. SFM has a trailing four-quarter earnings surprise of 17.9%, on average.


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Target Corporation (TGT) : Free Stock Analysis Report

Tractor Supply Company (TSCO) : Free Stock Analysis Report

The Kroger Co. (KR) : Free Stock Analysis Report

Sprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report

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