Executives break down strategic game plan in Investor Day event
The Kroger Co. detailed this year’s strategic growth plan led by fresh foods and digital at its virtual 2021 Investor Day conference.
Chairman and CEO Rodney McMullen told analysts and investors yesterday that Cincinnati-based Kroger aims to deliver a total shareholder return of 8% to 11% annually, backed by a financial model that now includes a higher operating profit base and a “clear path” to earnings growth of 3% to 5%.
In fiscal 2020, ended Jan. 30, Kroger added $10 billion to its top line. Sales totaled $132.5 billion, up 8.4% from 2019. That growth was 14.2% excluding fuel sales and dispositions. Identical sales excluding gas and adjustments surged 14.1% year over year.