136.01 0.00 (0.00%)
After hours: 5:35PM EDT
|Bid||136.36 x 1000|
|Ask||136.60 x 1000|
|Day's Range||136.09 - 137.77|
|52 Week Range||96.37 - 139.78|
|Beta (3Y Monthly)||0.71|
|PE Ratio (TTM)||22.32|
|Earnings Date||Aug 28, 2019 - Sep 3, 2019|
|Forward Dividend & Yield||1.28 (0.92%)|
|1y Target Est||137.04|
(Bloomberg) -- Kroger Co. fell the most in more than three months after posting an uneven quarterly performance, fueling investor concerns that Walmart Inc. and other rivals are taking sales and shoppers away from the grocer.Same-store sales excluding fuel rose 1.5% last quarter, short of projections, and while earnings narrowly beat analysts’ estimates, profit margins decreased again because of investments the company’s making to keep pace with the competition.Kroger, America’s biggest traditional supermarket chain, has found life more difficult amid the rock-bottom prices and improved quality offered by discounters like Walmart and Germany’s Aldi. It doesn’t help that Dollar General Corp. is beefing up its grocery section, adding more fresh and frozen food while entering more urban markets with stores that cater to millennials. Even drugstores sell plenty of food nowadays, which has prompted Kroger to partner with Walgreens to sell groceries in some locations.“While the results generally met expectations, the other large retailers of food that we cover performed a little better,” Joe Feldman, an analyst at Telsey Advisory Group, said in a note.Digital SalesIn response, Kroger is pushing hard to bolster online sales, which grew 42% last quarter. The company has also tested autonomous deliveries in Texas and Arizona. About 35 million more Americans are now buying food online compared with a year ago, according to Coresight Research, but penetration is still below markets like the U.K. Kroger generated about $5 billion in digital sales last year, and by the end of this year it plans to offer pickup or delivery service for all of its U.S. shoppers, up from about 90% last year.The shares sank as much as 5.1% to $22.43 in New York Thursday. They had already lost 14% this year through Wednesday’s close, compared with double-digit increases for both Walmart and the benchmark S&P 500.Kroger’s e-commerce investments, as well as a partnership with Microsoft Corp. to roll out digital shelf labels and explore other next-generation technology, have dented profitability in the short term, sending investors elsewhere.Profit excluding some items amounted to 72 cents a share in the period that ended May 25, exceeding the average analyst estimate by a penny. Kroger reiterated its full-year sales and profit guidance.To contact the reporter on this story: Matthew Boyle in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Crayton Harrison at email@example.com, Lisa Wolfson, Anne Riley MoffatFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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FedEx (NYSE: FDX) and Dollar General (NYSE: DG) announced they will partner up to offer a drop off and pickup at thousands of Dollar General stores. The businesses plan to begin rolling out the service in more than 1,500 Dollar General stores in late summer, building to a total of more than 8,000 stores by the end of 2020. “Dollar General is the perfect retailer to help us meet the growing need for convenient, secure drop-off and pickup options in a variety of rural communities,” said Scott Harkins, senior vice president, customer channel marketing at FedEx Services in a press statement.
FedEx will expand its drop-off and pickup services thanks to a new partnership with Dollar General. Monday, June 17 the Memphis-based shipping and logistics giant and the Goodlettsville, Tennessee, based retailer announced a strategic alliance. As part of that alliance, thousands of Dollar General stores will begin to offer FedEx drop-off and pickup services as part of FedEx's OnSite program.
Online retail has changed the way consumers shop. These discount retailers have reinvented themselves to thrive in the digital era.
FedEx Corp. (FDX) and Dollar General (DG) announced today a strategic alliance that will offer new, convenient access to FedEx drop-off and pickup services at thousands of Dollar General stores. The effort is designed to increase access for all customers, particularly those living in rural communities. FedEx and Dollar General plan to begin rolling out the service in more than 1,500 Dollar General stores in late summer 2019, building to a total of more than 8,000 stores by the end of 2020.
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Todd Vasos has been the CEO of Dollar General Corporation (NYSE:DG) since 2015. First, this article will compare CEO...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Dollar General Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
In the changing retail landscape, Costco (COST) has been able to create a niche for itself on the back of growth strategies. These factors are aiding the company in sustaining impressive comparable sales run.