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CINCINNATI - The Kroger Co. (NYSE: KR), one of America’s largest grocery retailers with annual revenue of $147.1 billion and a market capitalization of $45.1 billion, announced a series of executive leadership changes within its retail divisions. According to InvestingPro data, Kroger maintains a strong market position as a prominent player in the Consumer Staples Distribution & Retail industry. Joe Kelley has been appointed as the new Senior Vice President of Retail Divisions, succeeding Kenny Kimball, who is returning to his previous role as President of the Smith’s division.
Kelley, who has been with Kroger since 2019, brings nearly four decades of industry experience to his new role. His previous position as president of the King Soopers & City Markets division will now be filled by Chris Albi, a Kroger veteran since 1981. Albi has moved up the ranks from a courtesy clerk to group vice president of Operations for the same division.
Kenny Kimball, who joined Kroger in 1984 and has served as SVP of Retail Divisions for the past three years, will focus on strategic priorities and mentoring within the company as he resumes his leadership at Smith’s. The company’s commitment to leadership stability has contributed to its strong financial performance, with InvestingPro analysis showing 19 consecutive years of dividend increases and a healthy dividend yield of 1.85%.
Additionally, Kendra Doyel has been named as the new President of the Food 4 Less division, taking over from Bryan Kaltenbach, who is retiring after a career spanning five decades in the grocery industry. Doyel’s background includes a variety of leadership roles since she started with Kroger as a pharmacist in 1998.
These appointments reflect Kroger’s ongoing commitment to leadership development and operational excellence. The company, which serves over 11 million customers daily, operates multiple retail food stores under various banners and is dedicated to its mission of feeding the human spirit. With a robust gross profit margin of 23.5% and strong return on equity of 27%, Kroger demonstrates solid operational efficiency. For deeper insights into Kroger’s financial health and growth potential, including access to comprehensive Pro Research Reports covering 1,400+ top stocks, visit InvestingPro.
The information for this article is based on a press release statement from The Kroger Co.
In other recent news, Kroger has reported significant developments in its financial and strategic operations. Guggenheim has maintained a Buy rating on Kroger, raising its price target to $73 following a detailed assessment of the company’s latest 10-K filing. This filing revealed a merchandise gross margin of 28% and a new segment with a 60% adjusted EBITDA margin, suggesting higher profitability than previously thought. However, Melius downgraded Kroger to Sell, setting a price target of $58, due to intensified competition from Walmart, which has improved its service and digital capabilities. Additionally, Kroger has appointed Ronald Sargent as its interim CEO and Chairman, with compensation details including a base salary and restricted stock grants. The company has also launched the "Elite Ate" Snack Bracket, offering exclusive discounts during the college basketball season, as part of its marketing strategy. These developments come amid broader retail sector uncertainties highlighted at the UBS Global Consumer and Retail Conference, where companies discussed challenges and the need for evidence of a swift market recovery.
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