|Day's Range||1.8500 - 1.8700|
Kroger (KR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
First Retail Media Platform Awarded Platinum Certification by the Trustworthy Accountability Group for Securing TAG Seals to Improve Transparency and Prevent Fraud, Malware, Piracy CINCINNATI, OHIO / ACCESSWIRE ...
Amazon.com Inc is bringing its cashier-less store technology to a larger stage. The world's biggest online retailer on Tuesday is set to open 'Amazon Go Grocery,' a store in Seattle's Capitol Hill with four times the shopping space as the first cashier-less location it opened to the public in January 2018. The concept targets customers in residential neighborhoods rather than office workers, whom the smaller Amazon Go convenience stores serve.
This weekend's Barron's cover story ponders the significance of M&A in the financial sector. Other featured articles focus on recent moves by the Oracle of Omaha. Also, the prospects for a heavy equipment ...
Last year I had something in common with the great Warren Buffett of Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B).Source: Jonathan Weiss / Shutterstock.com What exactly was that? Kroger (NYSE:KR). I bought 100 shares last year, for $2,549. Buffett bought over $500 million worth.The difference is that I sold mine in January for $2,870, after pocketing $46 in dividends. Buffett just acquired his.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI think we both saw the same things in Kroger. It's a grossly undervalued company selling at one-fifth its sales volume. It has 10% of the U.S. grocery market, second only to Walmart (NYSE:WMT).So why did I get out when the Oracle of Omaha was getting in? Kroger FiefdomsUnless you've been reading my Kroger coverage regularly you may not know that Kroger isn't just one company. It contains multitudes. Oregon has Fred Meyer. In California it's Ralphs and in Kansas it's Dillons. Colorado has King Soopers. In North Carolina it's Harris Teeter. * 7 Failing Tech Stocks to Disconnect From Now Each of these companies is run separately. This confuses even reporters. Its decision to leave North Carolina to Harris Teeter was initially headlined by the local press as "Kroger leaves North Carolina."Kroger is beginning to recognize that this is silly. It began an ad campaign in all these stores late last year, under the slogan "fresh for everyone." The implication is that, over time, the stores will become one chain, likely under the Kroger name.The problem is that this strategy, too, is now out-of-date. Successful grocers, like Texas' H-E-B, have different formats for different markets. Wealthy shoppers might go to a Central Market store, Hispanic shoppers might prefer a Mi Tienda store.But after Kroger bought Mariano's in Chicago in 2017, it turned the stores into Kroger locations. It destroyed that company's unique identity for a bland, middle-class sameness. Not That UnderpricedKroger is "underpriced" because Kroger is badly run. The company is next due to report results March 5. Earnings of 55 cents per share are expected on revenue of $28.8 billion. That's only 2% more revenue than for the same quarter last year. The dividend of 16 cents yields 2.2%. The stock is up $2.50 this month, largely on Buffett's purchase.During the fourth quarter Kroger traded as low as $24 per share. Buffett is probably getting a price-to-earnings ratio below 15 and his yield is closer to 2.5%. But you're not likely to do as well unless Kroger makes significant changes.Those changes were foreshadowed by the company now known as Macy's (NYSE:M). The then-bankrupt New York chain was bought by Cincinnati-based Federated Department Stores in 1994. In 2005, Federated's regional stores all took the Macy's name, with Bloomingdale's retained as an upscale brand.This worked, so long as the middle class kept going to department stores. Once such stores were abandoned, Macy's had nowhere to go but down. The market capitalization of Macy's is now $5 billion, on trailing-year sales of $25 billion. You may notice that's the same price-to-sales ratio as Kroger. The Bottom Line on Kroger StockKroger stock can be a winning investment, but not until it undergoes fundamental change.It needs to rid itself of regional fiefdoms and differentiate based on demographics. It needs to turn store brands like Murray's Cheese into symbols of quality, as Target (NYSE:TGT) has done.That's not the kind of work Buffett does. It's the kind of work hedge funds like Elliott Management are known for. If Buffett could recruit such a firm to join him, or sold his Kroger stake to such a firm, I'd be a buyer.But I'm not buying this Kroger.Dana Blankenhorn has been a financial and technology journalist since 1978. He is the author of the environmental thriller Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this story. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Failing Tech Stocks to Disconnect From Now * 5 Ideal Dividend Stocks for New Investors * 4 Stocks to Buy No Matter Who Wins the 2020 Election The post What Does Warren Buffett See in Kroger That I No Longer Do? appeared first on InvestorPlace.
Cincinnati grocery store giant Kroger is adding two local eateries to one of its largest retail locations, which is currently undergoing renovation.
The Kroger Co. (NYSE: KR) announced today it will host its fourth quarter 2019 earnings conference call at 10 a.m. ET on Thursday, March 5, 2020.
Shares of Kroger inched higher Friday after Berkshire's 2.37% stake in Kroger was confirmed. Some analysts are questioning what Buffett sees in the grocery chain, which has been shedding market share since 2016.
In the fight for shelf space in grocery stores, big brands once held most of the information — and thus, much of the power. But that's changing.
The Kroger Co. (NYSE: KR) today announced that Rodney McMullen, Kroger's chairman and CEO, has been appointed to the American Heart Association (AHA) CEO Roundtable. McMullen joins more than 40 CEOs who are committed to improving the health and well-being of their employees and communities.
Kroger Co.’s stock soared Tuesday in the first day of trading after Warren Buffett’s Berkshire Hathaway Inc. said it bought a stake worth nearly $550 million, even as an analyst argued Tuesday against the wisdom of buying Kroger shares.
The grocery giant will donate its soon-to-close Springfield store, as well as land and non-proprietary contents of the facility without restrictions on future use.
U.S. stocks dropped on Tuesday after a surprise sales warning from tech bellwether Apple highlighted the impact of the coronavirus outbreak on global supply chains. The news also sent Apple suppliers, including Qualcomm Inc , Broadcom Inc, Qorvo Inc and Skyworks Solutions Inc, lower by 1.8% to 2.3%.
Warren Buffett took positions in Biogen and Kroger. Investors who want to follow Buffett's picking of these two value stocks can also play these ETFs as well.
Buffett disclosed late on Friday that he had taken a position in the beaten-down grocer, and after a long holiday-weekend, Kroger stock jumped on Tuesday.
Kroger shares rose after Warren Buffett's Berkshire Hathaway took a 2.3% stake in the No. 1 U.S. grocery chain, and R5 Capital analyst Scott Mushkin advises investors to sell into that strength.
Technology stocks dragged down Wall Street on Tuesday after a surprise sales warning from bellwether Apple fanned worries about the impact of the coronavirus outbreak on global supply chains. The world's most valuable technology firm said it was unlikely to meet its March-quarter sales guidance because of slower iPhone production and weaker demand in China, sending its shares down 2.5%.
Wall Street was set to open lower on Tuesday as a surprise sales warning from bellwether Apple fanned worries about the impact of the coronavirus outbreak on global supply chains. The world's most valuable technology firm said it was unlikely to meet its March-quarter sales guidance because of slower iPhone production and weaker demand in China, sending its shares down 2.3% in premarket trading. Apple's warning highlights issues that will eventually hurt a lot of companies with exposure to China, said Art Hogan, chief market strategist at National Securities in New York.
Berkshire Hathaway (NYSE: BRK-A ) (NYSE: BRK-B ) trimmed its stake in Apple Inc. (NASDAQ: AAPL ) by 37 million shares in the fourth quarter of 2019, according to its 13F filing with the Securities and ...
Kroger Co.’s stock soared in after-hours trading Friday following the disclosure that Warren Buffett’s Berkshire Hathaway conglomerate has made a huge investment in the supermarket giant’s stock.