Kroger Reports First Quarter 2024 Results; Rodney McMullen Shares

Kroger Reports First Quarter 2024 Results; Rodney McMullen Shares

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CINCINNATI, OH - For those closely following Kroger, you’re in luck! The company just posted its first quarter 2024 results, reaffirming guidance and updating its investors on how the Leading with Fresh and Accelerating with Digital strategy continues to position the retailer for long-term growth.

Rodney McMullen, Chairman and Chief Executive Officer, Kroger

"Kroger is off to a solid start in 2024 led by better-than-expected performance of our grocery business,” commented Chairman and Chief Executive Officer Rodney McMullen.

Highlights from the report include:

  • Total company sales were $45.3 billion in the first quarter compared to $45.2 billion for the same period last year
  • Executed its go-to-market strategy to deliver value for customers
  • Grew digital sales more than 8 percent, with Delivery and Pickup combining for double-digit growth
  • Increased total households, loyal households, and customer visits

On the topic of its proposed Albertsons merger, the company made this comment in the release: "Kroger has paused its share repurchase program to prioritize de-leveraging following the proposed merger with Albertsons."

Kroger recently released its first quarter 2024 results, noting a better-than-expected grocery business performance

“The long-term investments we have made to strengthen and diversify our model enables us to manage economic cycles and gives us the confidence to deliver on our full year outlook. By delivering value for customers and investing in our associates, Kroger remains well-positioned to generate attractive and sustainable returns for our shareholders,” added McMullen.

To see more form the report, click here.

As always, AndNowUKnow will keep an eye on all things retail.