January 28, 2023.<\/strong><\/p>\n\n\n\nNote: Fuel sales have historically had a low gross margin rate and operating expense rate as compared to corresponding rates on non-fuel sales. As a result, Kroger discusses the changes in these rates excluding the effect of fuel.<\/p>\n\n\n\n
Please refer to the supplemental information presented in the tables for reconciliations of the non-GAAP financial measures used in this press release to the most comparable GAAP financial measure and related disclosure. As noted above, Kroger is unable to provide a full reconciliation of the GAAP and non-GAAP measures used in its guidance without unreasonable effort because it is not possible to predict certain of our adjustment items with a reasonable degree of certainty. This information is dependent upon future events and may be outside of our control and its unavailability could have a significant impact on GAAP financial results.<\/p>\n\n\n\n
This press release contains certain statements that constitute “forward-looking statements” about the future performance of the company. These statements are based on management’s assumptions and beliefs in light of the information currently available to it. Such statements are indicated by words or phrases such as “achieve,” “believe,” “committed,” “continue,” “expect,” “future,” “guidance,” “positions,” “target,” and “will.” Various uncertainties and other factors could cause actual results to differ materially from those contained in the forward-looking statements. These include the specific risk factors identified in “Risk Factors” in our annual report on Form 10-K for our last fiscal year and any subsequent filings, as well as the following:<\/p>\n\n\n\n
Kroger’s ability to achieve sales, earnings, incremental FIFO operating profit, and adjusted free cash flow goals may be affected by: the risks relating to or arising from our proposed transaction with Albertsons announced in October 2022, including, among others, our ability to consummate the proposed transaction, including on the terms of the merger agreement, on the anticipated timeline, and\/or with the required regulatory approvals; COVID-19 pandemic related factors, risks and challenges; labor negotiations; potential work stoppages; changes in the unemployment rate; pressures in the labor market; changes in government-funded benefit programs; changes in the types and numbers of businesses that compete with Kroger; pricing and promotional activities of existing and new competitors, including non-traditional competitors, and the aggressiveness of that competition; Kroger’s response to these actions; the state of the economy, including interest rates, the current inflationary environment and future potential inflationary and\/or deflationary trends and such trends in certain commodities, products and\/or operating costs; the geopolitical environment including the war in Ukraine; unstable political situations and social unrest; changes in tariffs; the effect that fuel costs have on consumer spending; volatility of fuel margins; manufacturing commodity costs; supply constraints; diesel fuel costs related to Kroger’s logistics operations; trends in consumer spending; the extent to which Kroger’s customers exercise caution in their purchasing in response to economic conditions; the uncertainty of economic growth or recession; stock repurchases; changes in the regulatory environment in which Kroger operates; Kroger’s ability to retain pharmacy sales from third party payors; consolidation in the healthcare industry, including pharmacy benefit managers; Kroger’s ability to negotiate modifications to multi-employer pension plans; natural disasters or adverse weather conditions; the effect of public health crises or other significant catastrophic events; the potential costs and risks associated with potential cyber-attacks or data security breaches; the success of Kroger’s future growth plans; the ability to execute our growth strategy and value creation model, including continued cost savings, growth of our alternative profit businesses, and our ability to better serve our customers and to generate customer loyalty and sustainable growth through our strategic pillars of fresh, our brands, personalization, and seamless; and the successful integration of merged companies and new partnerships. Our ability to achieve these goals may also be affected by our ability to manage the factors identified above. Our ability to execute our financial strategy may be affected by our ability to generate cash flow.<\/p>\n\n\n\n
Kroger’s effective tax rate may differ from the expected rate due to changes in tax laws, the status of pending items with various taxing authorities, and the deductibility of certain expenses.<\/p>\n\n\n\n
Kroger assumes no obligation to update the information contained herein unless required by applicable law. Please refer to Kroger’s reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties.<\/p>\n\n\n\n
Note: Kroger’s quarterly conference call with investors will broadcast live at 10 a.m. (ET) on March 2, 2023 at ir.kroger.com<\/a>. An on-demand replay of the webcast will be available at approximately 1 p.m. (ET) on Thursday, March 2, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"Company Release – 3\/2\/2023 Fourth Quarter Highlights Fiscal 2022 Highlights CINCINNATI, March 2, 2023 \/PRNewswire\/ — The Kroger Co. (NYSE: KR) today reported its fourth quarter and fiscal year 2022 results, provided 2023 guidance and updated investors on how Leading with Fresh and Accelerating with Digital continues to position Kroger for long-term sustainable growth. Comments from Chairman and CEO Rodney […]<\/p>\n","protected":false},"author":51,"featured_media":195592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[13,45,37,39,42,15,247,249,215,18,17,24,343,23,19,14,25,28,11,21,22,26],"tags":[72,53,174,180,173,194,123,69,131,133,136,137,139,142,182,29,342,148,183,184,253,96,153,154,155,162,207,168,169,170,241,347,146,252,193,149,172,106,181,188,349,185],"_links":{"self":[{"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/posts\/221471"}],"collection":[{"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/comments?post=221471"}],"version-history":[{"count":3,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/posts\/221471\/revisions"}],"predecessor-version":[{"id":221475,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/posts\/221471\/revisions\/221475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/media\/195592"}],"wp:attachment":[{"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/media?parent=221471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/categories?post=221471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/retailwit.com\/wp-json\/wp\/v2\/tags?post=221471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}