olivLaw · US equity research
The Kroger Co. KR
Retail-Grocery Stores · SIC 5411 · Vertical: Retail-Grocery Stores (SIC 5411)
Kroger is one of the largest American grocery retailers, operating 2,697 supermarkets as of January 31, 2026. Sales were 147.6 bn USD in fiscal 2025, and in the second quarter of 2026 they reached 34.6 bn USD. For fiscal 2026 the company guides FIFO operating profit of 5.0-5.2 bn USD and adjusted EPS of 5.10-5.30 USD.
At the close of 30 Oct 2026, The Kroger Co. (KR) stock was 66.76 USD (+1.26% on the day), with market capitalisation 39.4 bn USD, P/E 43.4 on diluted EPS of 1.54 USD over the last 12 months, dividend yield 2.05%, beta -0.33, 52-week range 55.53–75.60 USD. Latest reported quarter (Q2 2027): revenue of 34.6 bn USD (+2.0% YoY), net income of 641.0 m USD (+5.3% YoY), diluted EPS 1.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 64.1
- strong (55–70)
- Bollinger (20, 2)
- 57.91 – 68.82
- in the upper half of the band · %B 0.81 · band width 17.2%
- SMA 50 / 200
- 60.64 / 63.65
- mixed trend
- MACD (12, 26, 9)
- 1.81 / 1.62
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.9% | −0.9% | +14.8 pp | — |
| 3 months | +15.6% | +1.2% | +14.4 pp | — |
| 6 months | −1.5% | +4.8% | −6.3 pp | — |
| Year to date | +6.9% | +10.7% | −3.9 pp | — |
| 1 year | +2.0% | +11.1% | −9.1 pp | −7.8% |
| 3 years | +47.1% | +80.7% | −33.6 pp | +9.6% |
| 5 years | +66.8% | +64.6% | +2.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 15 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q2 '25 | Q3 '25 | Q4 '25 | Q2 '26 | Q3 '26 | Q4 '26 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 37.1 bn | 33.9 bn | 33.6 bn | 34.3 bn | 33.9 bn | 33.9 bn | 34.7 bn | 34.6 bn |
| Cost of revenue | 28.6 bn | 26.3 bn | 25.9 bn | 26.4 bn | 26.1 bn | 26.0 bn | 26.6 bn | 26.8 bn |
| Operating income | 1.2 bn | 815.0 m | 828.0 m | 912.0 m | 863.0 m | -1.5 bn | 1.2 bn | 971.0 m |
| Depreciation & amortisation | 729.0 m | 751.0 m | 757.0 m | 760.0 m | 778.0 m | 782.0 m | 722.0 m | 737.0 m |
| Interest expense | 100.0 m | 84.0 m | — | — | — | — | — | — |
| Pre-tax income | 934.0 m | 613.0 m | 804.0 m | 736.0 m | 772.0 m | -1.8 bn | 1.1 bn | 840.0 m |
| Income tax | 195.0 m | 148.0 m | 187.0 m | 102.0 m | 162.0 m | -475.0 m | 255.0 m | 198.0 m |
| Net income | 739.0 m | 466.0 m | 618.0 m | 634.0 m | 609.0 m | -1.3 bn | 861.0 m | 641.0 m |
| Diluted EPS | 1.02 ≈ | 0.64 | 0.84 | 0.91 ≈ | 0.91 | -2.02 | 1.36 ≈ | 1.05 |
| Operating cash flow | 1.9 bn | — | 926.0 m ≈ | 1.4 bn | — | 970.0 m ≈ | 2.7 bn | — |
| Capex | 997.0 m | — | 954.0 m ≈ | 884.0 m | — | 941.0 m ≈ | 946.0 m | — |
| Dividends paid | 210.0 m | — | 231.0 m ≈ | 232.0 m | — | 237.0 m ≈ | 226.0 m | — |
| Share repurchases | 8.0 m | — | 9.0 m ≈ | 4.0 bn | — | 738.0 m ≈ | 1.8 bn | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 10-quarter history (min 7.5, median 15.2, max 40.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 121.9 bn | 122.3 bn | 132.5 bn | 137.9 bn | 148.3 bn | 150.0 bn | 147.1 bn | 147.6 bn |
| Revenue YoY | −1.2% | +0.4% | +8.4% | +4.1% | +7.5% | +1.2% | −1.9% | +0.4% |
| Net income | 3.1 bn | 1.7 bn | 2.6 bn | 1.7 bn | 2.2 bn | 2.2 bn | 2.7 bn | 1.0 bn |
| Net income YoY | +63.1% | −46.7% | +55.8% | −36.0% | +35.6% | −3.6% | +23.2% | −61.9% |
| Diluted EPS | 3.76 | 2.04 | 3.27 | 2.17 | 3.06 | 2.96 | 3.67 | 1.54 |
| Diluted EPS YoY | +79.9% | −45.7% | +60.3% | −33.6% | +41.0% | −3.3% | +24.0% | −58.0% |
| net % | 2.6% | 1.4% | 2.0% | 1.2% | 1.5% | 1.4% | 1.8% | 0.7% |
| Free cash flow | 1.2 bn | 1.5 bn | 4.0 bn | 3.6 bn | 1.4 bn | 2.9 bn | 1.8 bn | 3.5 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 3.3 bn USD
- Financial debt
- 15.9 bn USD
- Net debt
- 12.5 bn USD
- Equity
- 5.9 bn USD
- Total assets
- 50.0 bn USD
- Debt / equity
- 2.67x
- Current ratio
- 0.80x
- ROE
- 14.3%
- ROA
- 2.0%
- FCF margin
- 2.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 132.5 bn | 137.9 bn | 148.3 bn | 150.0 bn | 147.1 bn | 147.6 bn | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | 101.6 bn | 107.5 bn | 116.5 bn | 116.7 bn | 113.7 bn | 113.2 bn | SEC (XBRL)· 31 Mar 2026verified |
| Gross profit | 30.9 bn ≈ | 30.3 bn ≈ | 31.8 bn ≈ | 33.4 bn ≈ | 33.4 bn ≈ | 34.4 bn ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Operating income | 2.8 bn | 3.5 bn | 4.1 bn | 3.1 bn | 3.8 bn | 1.9 bn | SEC (XBRL)· 31 Mar 2026verified |
| Depreciation & amortisation | 2.7 bn | 2.8 bn | 3.0 bn | 3.1 bn | 3.2 bn | 3.3 bn | SEC (XBRL)· 31 Mar 2026verified |
| EBITDA | 5.5 bn ≈ | 6.3 bn ≈ | 7.1 bn ≈ | 6.2 bn ≈ | 7.1 bn ≈ | 5.2 bn ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Interest expense | 544.0 m | 571.0 m | 535.0 m | 441.0 m | — | — | SEC (XBRL)· 02 Apr 2024verified |
| Pre-tax income | 3.4 bn | 2.1 bn | 2.9 bn | 2.8 bn | 3.3 bn | 1.2 bn | SEC (XBRL)· 31 Mar 2026verified |
| Income tax | 782.0 m | 385.0 m | 653.0 m | 667.0 m | 670.0 m | 176.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Net income | 2.6 bn | 1.7 bn | 2.2 bn | 2.2 bn | 2.7 bn | 1.0 bn | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | 3.27 | 2.17 | 3.06 | 2.96 | 3.67 | 1.54 | SEC (XBRL)· 31 Mar 2026verified |
| Weighted average diluted shares | 781.0 m | 754.0 m | 727.0 m | 725.0 m | 720.0 m | 655.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Dividend per share | 0.70 | 0.81 | 0.99 | 1.13 | 1.25 | 1.37 | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.7 bn | 1.8 bn | 1.0 bn | 1.9 bn | 4.0 bn | 3.3 bn | SEC (XBRL)· 31 Mar 2026verified |
| Current assets | 12.5 bn | 12.2 bn | 12.7 bn | 12.9 bn | 15.3 bn | 14.5 bn | SEC (XBRL)· 31 Mar 2026verified |
| Goodwill | 3.1 bn | 3.1 bn | 2.9 bn | 2.9 bn | 2.7 bn | 2.6 bn | SEC (XBRL)· 31 Mar 2026verified |
| Intangibles (excl. goodwill) | 997.0 m | 942.0 m | 899.0 m | 899.0 m | 834.0 m | 808.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Total assets | 48.7 bn | 49.1 bn | 49.6 bn | 50.5 bn | 52.6 bn | 50.0 bn | SEC (XBRL)· 31 Mar 2026verified |
| Accounts payable | — | — | — | 10.4 bn | 10.1 bn | 10.5 bn | SEC (XBRL)· 31 Mar 2026verified |
| Short-term debt | 844.0 m | 451.0 m | 1.2 bn | 25.0 m | 104.0 m | 1.4 bn | SEC (XBRL)· 31 Mar 2026verified |
| Long-term debt | 11.6 bn | 11.3 bn | 10.1 bn | 10.2 bn | 15.8 bn | 14.5 bn | SEC (XBRL)· 31 Mar 2026verified |
| Current liabilities | 15.4 bn | 16.3 bn | 17.2 bn | 16.1 bn | 15.9 bn | 18.1 bn | SEC (XBRL)· 31 Mar 2026verified |
| Total liabilities | 39.1 bn | 39.7 bn | 39.6 bn | 38.9 bn | 44.3 bn | 44.0 bn | SEC (XBRL)· 31 Mar 2026verified |
| Equity | 9.6 bn | 9.4 bn | 10.0 bn | 11.6 bn | 8.3 bn | 5.9 bn | SEC (XBRL)· 31 Mar 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 6.8 bn | 6.2 bn | 4.5 bn | 6.8 bn | 5.8 bn | 7.3 bn | SEC (XBRL)· 31 Mar 2026verified |
| Capex | 2.9 bn | 2.6 bn | 3.1 bn | 3.9 bn | 4.0 bn | 3.9 bn | SEC (XBRL)· 31 Mar 2026verified |
| Free cash flow | 4.0 bn ≈ | 3.6 bn ≈ | 1.4 bn ≈ | 2.9 bn ≈ | 1.8 bn ≈ | 3.5 bn ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Investing cash flow | -2.8 bn | -2.6 bn | -3.0 bn | -3.8 bn | -3.2 bn | -3.9 bn | SEC (XBRL)· 31 Mar 2026verified |
| Financing cash flow | -2.7 bn | -3.4 bn | -2.3 bn | -2.2 bn | -490.0 m | -4.0 bn | SEC (XBRL)· 31 Mar 2026verified |
| Dividends paid | 534.0 m | 589.0 m | 682.0 m | 796.0 m | 883.0 m | 885.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Share repurchases | 1.3 bn | 1.6 bn | 993.0 m | 62.0 m | 4.2 bn | 2.7 bn | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 39 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40 · (margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
30 Oct 2026Source: olivLaw, closing series
Market cap: 39.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Growth0
- Balance sheet0
- Valuation38
- Quality65
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.00 – 27.67 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA0.00 – 19.99 (Mid 2.55)3 companies used · median multiple 2.9x · quartiles 2.0x – 4.8xACI, NGVC, VLGEA
- Peers: P/E14.70 – 27.67 (Mid 21.55)4 companies used · median multiple 11.7x · quartiles 8.0x – 15.1xNGVC, SFM, VLGEA, WMK
- Dividend discount (DDM)18.00 – 24.21 (Mid 20.65)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 39/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.5% | 57 (vs peers) | 11% |
| Net margin · Quality | 0.7% | 44 (vs peers) | 7% |
| FCF conversion · Quality | 219.9% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -0.1% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -20.5% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 2.6x | 0 (vs peers) | 11% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 36.4x | 0 (on a fixed band) | 11% |
| EV/EBITDA · Valuation | 10.0x | 45 (on a fixed band) | 11% |
| FCF yield · Valuation | 6.0% | 76 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 11.8% | 100 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 37.5% | 100 (on a fixed band) | 4% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality65/100 · 3/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation38/100 · 3/3 factors with a value
Memo
KROGER CO (KR). Latest full fiscal year: 2026; data up to 2026-08-15.
Figures computed from the financial statements: revenue 147.6 bn USD in 2026; YoY growth 0.4%; net margin 0.7%; ROE 14.3%; net debt/EBITDA 2.6x.
The estimated value range is 14.70–24.21 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 20.65 USD, the price of 66.76 USD leaves a potential of -69.1% (value / price − 1) and a margin of safety of -223.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 39/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 219.9%
- FCF yield: 6.0%
- Shareholder yield (distributions): 11.8%
- Payout ratio (FCF): 37.5%
What contradicts it
- Revenue CAGR 3Y: -0.1%
- EPS CAGR 3Y: -20.5%
- Net debt / EBITDA: 2.6x
- Current ratio: 0.7x
- P/E (TTM): 36.4x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Interest coverage.
Versus the vertical median
Retail-Grocery Stores (SIC 5411) · same industry (4-digit SIC) · compared with 10 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| KRKroger Co | 39.4 bn | 36.4 | 14.3% | 0.7% | +0.4% | +2% / +47% |
| ACIAlbertsons Companies, Inc. | 6.2 bn | — | -2.3% | -0.1% | +3.5% | −26% / −40% |
| SFMSprouts Farmers Market, Inc. | 4.6 bn | 9.5 | 33.5% | 5.4% | +14.1% | −37% / +18% |
| WMKWeis Markets, Inc | 1.8 bn | 18.5 | 7.4% | 2.0% | +3.5% | +17% / +14% |
| GOGrocery Outlet Holding Corp. | 1.3 bn | — | -38.1% | -8.0% | unavailable | −5% / −53% |
| NGVCNatural Grocers by Vitamin Cottage, Inc. | 661.2 m | 13.9 | 21.6% | 3.5% | +7.2% | −11% / +128% |
| VLGEAVillage Super Market, Inc. | 179.8 m | 3.4 | 10.3% | 2.2% | +3.7% | +36% / +75% |
| HOSTHost Digital Inc. | 92.5 m | — | -207.8% | -13.3% | +12.7% | −86% / unavailable |
| MSSMaison Solutions Inc. | 17.7 m | — | — | — | +4.8% | −97% / −100% |
| IMKTAIngles Markets, Incorporated | — | — | 6.3% | 1.9% | −5.4% | +22% / +5% |
| TBBBBbb Foods Inc | — | — | -69.6% | -3.6% | +36.1% | +107% / unavailable |
1- and 3-year price returns: for KR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 37.62 Total return -42% · Per year -42% | 66.67 Total return 2% · Per year 2% | 100.63 Total return 54% · Per year 54% |
| 3 years | 33.19 Total return -45% · Per year -18% | 66.48 Total return 7% · Per year 2% | 110.65 Total return 75% · Per year 21% |
| 5 years | 29.28 Total return -48% · Per year -12% | 66.30 Total return 11% · Per year 2% | 121.67 Total return 99% · Per year 15% |
- Exit P/E± 16.62
- Net margin± 11.63
- Annual revenue growth± 9.99
- Annual dilution± 0.98
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Kroger is one of the largest American grocery retailers, operating 2,697 supermarkets as of January 31, 2026 1. Sales were 147.6 bn USD in fiscal 2025 1, and in the second quarter of 2026 they reached 34.6 bn USD 3. For fiscal 2026 the company guides FIFO operating profit of 5.0-5.2 bn USD and adjusted EPS of 5.10-5.30 USD 3.
SWOT
Strengths
- Kroger has a large store network with pharmacies and fuel centers, and a loyalty program that covers nearly all transactions 1.
- The retail media business and customer data provide high-margin revenue that can help fund retail investment 13.
- Our Brands has a significant share of sales and supports the company's margins 1.
Weaknesses
- Impairment charges tied to the automated fulfillment network weighed on 2025 profit 1.
- Identical sales without fuel grew slowly in the first half of 2026, showing difficulty in growing the core business 2.
- Labor and benefit costs are rising, and many collective bargaining agreements must be renegotiated periodically 1.
Opportunities
- eCommerce and delivery could keep growing if the company makes its operations more efficient 13.
- Expanding retail media could add high-margin revenue, and Kroger Precision Marketing grew profit in the second quarter of 2026 3.
- Opening new stores could extend the company's presence in existing and new markets 1.
Risks
- Competitive pressurehigh
Online retailers, discounters and regional chains could reduce sales if Kroger fails to adapt its offer quickly 1.
- Labor riskshigh
Strikes or renegotiation of collective agreements could affect many stores at once and raise costs 1.
- Data securitymedium
Cyberattacks could compromise customer data and create legal and reputational costs 1.
- Pharmacy regulationmedium
Changes linked to the Inflation Reduction Act could reduce identical sales, and a shift toward generic drugs could lower pharmacy revenue 23.
- eCommerce investment returnslow
The closure of automated fulfillment facilities shows that some digital investments did not meet expectations, which could affect profitability 1.
Investment thesis
What would need to be true (bull case)
- If eCommerce and retail media growth continues, Kroger could improve profitability in the coming years 13.
- The large store network and loyalty program can support sales even in a difficult economic environment 1.
- The adjusted profit guidance for 2026 was reaffirmed, which may indicate good visibility into profit drivers 3.
What would break the thesis
- Identical sales without fuel grew slowly and sales guidance was lowered, which could signal difficulty in winning back customers 23.
- If competitive pressure and labor costs rise, margins could be hurt 1.
- eCommerce investments have already produced impairments, and their future returns could remain uncertain 1.
What to watch
- Trend in identical sales without fuel and the impact of the Inflation Reduction ActQ3 2026
- Outcomes of the October 2026 investor update and long-term financial targets2026
- Development of FIFO gross margin and labor costsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Kroger builds its business on grocery retail, including in-store pharmacies and fuel centers, selling products in stores, at fuel centers and through online platforms 1. Its strategy rests on Fresh, Our Brands, Personalization and eCommerce, and the data and traffic from retail feed high-margin alternative profit businesses such as retail media, which contributed 1.5 bn USD of operating profit in 2025 1. The company serves about 63 million households a year and employed more than 403,000 people 1.
Our Brands sold over 39 bn USD in 2025 and are produced partly in the company's food production plants 1. Retail is the only reportable segment, and retail media is a growth area developed through Kroger Precision Marketing 2.
Segments
Market context
The US grocery market is intensely competitive, with online retailers, large supermarkets, discount stores and regional chains 1. Growing grocery delivery by retailers and third-party providers gives customers many purchasing options 1.
In the first two quarters of 2026 sales without fuel were roughly flat, and identical sales without fuel rose 0.6% 2. Inflation, economic uncertainty and labor market pressures can influence customer demand and margins 2.
Trends
- Growth of eCommercetailwind
Online ordering and delivery have grown strongly, pointing to a shift of customers toward digital channels and an opportunity for Kroger 12.
- Data-driven retail mediatailwind
Demand from consumer goods companies for measurable advertising could support high-margin revenue at Kroger Precision Marketing 13.
- AI-driven shopping agentsheadwind
Tools that buy products automatically for consumers could weaken the direct customer relationship and increase margin pressure 1.
- Inflation Reduction Act effectsheadwind
The effect of the Inflation Reduction Act on identical sales is a significant headwind for 2026 and was included in the updated guidance 23.
Competitive position
Kroger competes with online retailers, large supermarkets, discount stores, regional chains and specialty grocers 1. Pricing and promotional competition can affect the company's profitability 2.
The market is shaped by competitors investing heavily in delivery and eCommerce, which requires Kroger to keep adapting its services and prices 1.
- WalmartWMT
A large retailer with a strong presence in grocery and online sales, named among the large-scale competitors in the industry 1.
- Online retailers
eCommerce platforms compete for grocery orders and for customers' delivery preferences 1.
- Discount stores
Discount retailers compete directly with Kroger on low prices for value-focused customers 1.
- Regional supermarket chains
Local and regional chains compete in markets where Kroger has stores, on proximity and service 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Kroger CFO: We Are an Agent for the ConsumerBloomberg Markets · 22 Oct 2026 · EN
- Kroger’s Ex-CEO Defends Effort to Close Failed Albertsons DealBloomberg Markets · 21 Oct 2026 · EN
- Kroger laying off 3,000 corporate employees over 3 years amid increased AI useThe Hill · 13 Oct 2026 · EN
- Albertsons Seeks More Than $9 Billion Over Busted Kroger DealBloomberg Markets · 12 Oct 2026 · EN
- Here are Tuesday's biggest analyst calls: Nvidia, SpaceX, Apple, Netflix, Kroger, AutoZone & moreCNBC — Top News · 29 Sept 2026 · EN
- Walmart Vs Kroger: Jim Cramer Couldn’t Figure Out Why Only One’s Shares Went UpYahoo Finance — News · 18 Sept 2026 · EN
- Kroger says cyclosporiasis outbreak cost over $100M in lost salesYahoo Finance — News · 16 Sept 2026 · EN
- Kroger borrows a key strategy from Costco to lower pricesYahoo Finance — News · 16 Sept 2026 · EN
- Why Kroger Co. (KR) Could Be a Consumer Staples Comeback StoryYahoo Finance — News · 15 Sept 2026 · EN
- Kroger Under Pressure as Shoppers Become More Price-SensitiveYahoo Finance — News · 15 Sept 2026 · EN
- Kroger knows what's wrong with its storesYahoo Finance — News · 14 Sept 2026 · EN
- Kroger loses $12 billion as customer behavior takes a turnYahoo Finance — News · 13 Sept 2026 · EN
- Kroger Can't Compete With 30-Year U.S. Treasury Bonds on Yield Alone. Here's Why the Dividend Stock Is Still a Better Buy for Long-Term Investors.Yahoo Finance — News · 13 Sept 2026 · EN
- Kroger (KR) Q2 2026 Earnings Call TranscriptYahoo Finance — News · 12 Sept 2026 · EN
- The Kroger Co. Q2 2026 Earnings Call SummaryYahoo Finance — News · 11 Sept 2026 · EN
- Kroger Cuts Sales Forecast, Oracle Gains | Stock MoversBloomberg Markets · 11 Sept 2026 · EN
- Kroger Cuts Full-Year Sales Guidance as Q2 Adjusted EPS Reaches $1.09Yahoo Finance — News · 11 Sept 2026 · EN
- Ahead of Kroger Earnings, Here's What Barchart Data Says Comes Next for KR StockYahoo Finance — News · 10 Sept 2026 · EN
- Kroger and Albertsons make key moves to take on Amazon, WalmartYahoo Finance — News · 10 Sept 2026 · EN
- The Kroger Co. (KR) Shares Weighed by Inflation Pressure and Slowing SalesYahoo Finance — News · 08 Sept 2026 · EN
SEC filings
- Current report20 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report05 Oct 2026Other events · Financial statements and exhibits
- Quarterly report18 Sept 2026
- Current report (amendment)11 Sept 2026Results of operations · Financial statements and exhibits
- Current report11 Sept 2026Results of operations · Financial statements and exhibits
- Current report02 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report01 Jul 2026Other events
- Current report26 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report26 Jun 2026
- Current report18 Jun 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / The Kroger Co. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-08-15 · SEC / The Kroger Co. · 18 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / The Kroger Co. · 11 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.