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CINCINNATI - The Kroger Co. (NYSE:KR), a prominent player in the Consumer Staples sector with a market capitalization of $45.8 billion, announced several leadership appointments on Tuesday, including a new Head of Sourcing and changes to divisional president positions. According to InvestingPro analysis, the company’s stock is currently trading slightly below its Fair Value, suggesting potential upside opportunity.
Ed Oldham will join Kroger as Head of Sourcing on August 4. Oldham previously served as Senior Vice President and Chief Supply Chain Officer at PetSmart, where he managed distribution and transportation strategy across North America. He brings over 25 years of experience from roles at Petco, Walmart, Ernst & Young, and Walgreens.
Ann Reed, currently president of the Cincinnati-Dayton division, has been promoted to group vice president of Our Brands, effective August 4. Reed has been with Kroger since 1993, holding various leadership positions throughout the company.
Jake Cannon will replace Reed as president of the Cincinnati-Dayton division beginning August 1. Cannon, who currently serves as Louisville division president, has been with Kroger since 1999 when he started as a Produce clerk in the Smith’s division.
Josh Harpole, currently vice president of Deli, Bakery and Prepared Foods, will succeed Cannon as Louisville division president. Harpole joined Kroger as a courtesy clerk in the King Soopers division in 1994.
"Ed brings a wealth of knowledge from his time working at and supporting a variety of different retailers," said Ron Sargent, Chairman and CEO of Kroger, according to the company’s press release.
Kroger operates retail food stores under various banner names across the United States, employing more than 400,000 associates who serve over 11 million customers daily. The company has demonstrated strong shareholder commitment, having raised its dividend for 19 consecutive years and maintaining a current dividend yield of 2%. For detailed analysis and additional insights, including 7 more exclusive ProTips, visit InvestingPro.
In other recent news, Kroger announced a 9% increase in its annual dividend, raising it from $1.28 to $1.40 per share. The next quarterly dividend of 35 cents per share is scheduled for payment on September 1, 2025, to shareholders of record as of August 15, 2025. Kroger also named George Vincent as its new secretary and general counsel, effective August 4, as part of a planned leadership transition. Barclays initiated coverage on Kroger with an Equalweight rating and a price target of $90, noting potential improvements in identical store sales through 2025/26. UBS raised its price target for Kroger to $74 from $66, highlighting improved execution and a fifth consecutive quarter of sequential acceleration in identical store sales, excluding fuel. Morgan Stanley also increased its price target to $76 from $71, citing Kroger’s accelerating top-line growth and market share inflection. The firm expects EBIT growth to rise to mid-single-digit percentages later in the year. These developments reflect a series of strategic moves and positive assessments from financial analysts.
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