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Analyst Report: Kroger Co.

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Summary

Kroger, based in Cincinnati, operated about 2,700 retail supermarkets and multidepartment stores in 35 states at the end of FY25. We estimate that these stores generated over 90% of the company’s $147 billion in sales in FY25. KR also operated 1,702 supermarket fuel centers, 33 food processing plants, and 43 distribution centers in the U.S. at the end of FY25. We will update these numbers after we review the annual report. These plants make about 31% of KR’s private-brand units. The company’s name plates include Kroger, Ralphs, Fred Meyer, Food 4 Less, King Scoopers, Smith’s, Fry’s, Dillon’s, City Market, and Harris Teeter. Some 15% of the supermarkets are in California, 9% are in Ohio, and 8% are in Texas. Wal-Mart and Sam’s Club are primary competitors in most major markets. KR has pharmacies in about 82% of its food stores. The company has 180 million square feet of supermarket space. KR completed the sale of 782 convenience stores in the first quarter of FY19.

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