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Daily QuickWit (3/3) – Top Retail News of the Day

How did Kroger do this quarter and for Fiscal 2021? The stock chart above should be an indication.  Today, after the earning release Kroger hit an all time high!

"As we look to 2022, we expect the momentum in our business to continue and have confidence in our ability to navigate a rapidly changing operating environment. We are leveraging technology, innovation, and our competitive moats to build lasting competitive advantages. Our balanced model is allowing us to deliver for shareholders, invest in our associates, continue to provide fresh affordable food to our customers and uplift our communities.  

"We remain confident in our growth model and our ability to deliver total shareholder returns of 8% to 11% over time." - Rodney McMullen Kroger CEO

 

Fourth Quarter Highlights
      • Identical Sales without fuel increased 4.0%;
        • two-year stack increased 14.6%
      • Digital Sales two-year stack grew 105%
      • EPS of $0.75; Adjusted EPS of $0.91
      • Operating Profit of $965 million
        • Adjusted FIFO Operating Profit of $1,014 million
Fiscal 2021 Highlights
      • Identical Sales without fuel increased 0.2%;
        • two-year stack increased 14.3%
      • Digital Sales two-year stack grew 113%
      • EPS of $2.17; Adjusted EPS of $3.68
      • Operating Profit of $3.5 billion
        • Adjusted FIFO Operating Profit of $4.3 billion
    •  

Customer satisfaction with retailers is mostly steady

Customer satisfaction with retail is relatively stable, according to the American Customer Satisfaction Index’s 2021-2022 ranking. “Cool stability,” says ACSI managing director David VanAmburg. “That’s the best way to describe the retail sector right now.

This study includes six retail industries – online retail, department and discount stores, specialty retail stores, drugstores, supermarkets, and gas stations – as well as consumer shipping and the U.S. Postal Service. Of the six retail categories, only online retail and gas stations (down 4.2% to 68) saw their satisfaction scores slide in 2021.

      • Costco remains in first place — for the sixth consecutive year

Coors Light opens sustainable Future Mart

Coors Light is opening a “Plastic-Free Future Mart” pop-up experience in Brooklyn, New York, from March 2-6 to announce that Coors Light will remove plastic rings from packaging in markets where parent Molson Coors operates, according to a news release. The company said the move to fully recyclable and sustainably sourced cardboard carriers will make it the largest beer brand in North America to cut out the use of plastic rings.

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