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Ford and Costco are approaching good levels to pick up additional shares, according to Jim Cramer. "Costco shares have given back some recent gains but business is strong," said Jeff Marks, the Club's director of portfolio analysis. Ford fundamentals Shares of Club name Ford rose 2.8% to $13.65 each Wednesday after vehicle sales in the first quarter grew 6.8%. "These numbers do not show the profitability of Ford," Jim said Wednesday, suggesting investors should value the company at higher levels. Ford shares need to catch up to crosstown rival General Motors , he argued.
Persons: Jim Cramer, Jeff Marks, Jim, Gordon Haskett, I'm, Craig Jelinek, Rich Galanti, Ron Vachris, Gary Millerchip, Jim Cramer's, Charly Triballeau Organizations: Ford, Costco, University of Michigan, Motors, GM, Wall, CNBC, AFP, Getty Locations: Inwood , New York
Walmart expanded its same-day delivery offering to allow shoppers to get online purchases dropped off earlier in the morning. With same-day deliveries, the three retailers are not only trying to outmatch one another on convenience. With Target's announcement this week, Walmart, Target and Kroger will all have paid membership programs with home deliveries as one of the benefits. Kroger has used online delivery to break into new regions of the country, including Florida, without opening a single grocery store. Walmart and Target both beat Wall Street's sales expectations for the holiday quarter, but said shoppers are still very value-focused.
Persons: Kroger, Michael Baker, Davidson, Davidson's Baker, John David Rainey, Rodney McMullen, That's, McMullen, We've Organizations: Target, Walmart, D.A, Kroger, Costco, Albertsons, FTC, Wall Locations: U.S, Florida
CNBC's Jim Cramer on Friday told investors what to look for next week on Wall Street, including earnings from retailers like Target . Tuesday brings earnings from Target and Cramer said he's optimistic about the big-box retailer's performance. On Thursday, Cramer will be paying attention to earnings from grocers Kroger and Costco , as well as Marvell Technology . Friday brings February's unemployment report. If there's a slight boost in unemployment while wages stay steady, Cramer said he thinks investors won't have to fight the Fed.
Persons: CNBC's Jim Cramer, Cramer, Forget, he'll, it's, George Kurtz, Campbell Soup, Kroger's, he's Organizations: Federal Reserve, Palo Alto Networks, Abercrombie, Fitch, Kroger, Costco, Marvell Technology, Federal Trade Commission, Albertsons
"Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating." Kroger said in a statement that blocking the deal "will actually harm the very people the FTC purports to serve: America's consumers and workers." The company also pledged $500 million to reduce prices for customers and $1 billion to raise employee wages and expand benefits. Two unions that represent Kroger and Albertsons employees, the United Food and Commercial Workers International Union and the Teamsters union, opposed the deal. Higher grocery prices have irked consumers and become a hot topic on the campaign trail.
Persons: Henry Liu, Kroger, Albertsons, Biden, Joe Biden, Rodney McMullen Organizations: U.S . Federal Trade Commission, Kroger, Albertsons, FTC, Washington D.C, Walmart, Amazon, Costco, White, United Food, Commercial Workers International Union, Teamsters Locations: Arizona , California, Washington, , Illinois, Maryland , Nevada , New Mexico , Oregon, Wyoming, FTC's
Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.
Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, , Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's
Cramer's Lightning Round: 'Hold off' on Kroger
  + stars: | 2024-02-05 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon AST SpaceMobile's year-to-date stock performance. Stock Chart Icon Stock chart icon GSK's year-to-date stock performnace. Stock Chart Icon Stock chart icon Kroger's year-to-date stock performance. Stock Chart Icon Stock chart icon Parker-Hannifin's year-to-date stock performance. Stock Chart Icon Stock chart icon BigCommerce's year-to-date stock performance.
Persons: It's, Parker Organizations: Icahn Enterprises, GSK, Kroger
A TikToker snuck into a Kroger and worked a full shift before anyone noticed. The company's corporate office invited her back to film and work at the store for another day. AdvertisementA TikToker who snuck her way into a Kroger grocery store earlier this month and worked a full shift before anyone noticed was invited back for another go. In one video, which amassed 1.4 million views, she said she worked a full day in a Kroger store in Indianapolis in her normal clothes until a manager caught her. AdvertisementThe spokesperson said Madison was invited back to "a proper job shadow in our stores."
Persons: , Madison, we're, Kroger Organizations: Kroger, Service, Insider, Harvest Locations: Madison, Indianapolis, TikTok, Hamilton
Supermarket chain Kroger's proposed acquisition of rival Albertsons is now expected to close in the first half of Kroger's fiscal year 2024 instead of early this year. Kroger, Albertsons and C&S Wholesale Grocers said they are in "active and ongoing dialogue" with the Federal Trade Commission and individual state attorneys general, according to the joint statement. In a bid to close the proposed $24.6 billion deal, Kroger agreed in September to divest 413 stores and eight distribution centers to C&S for $1.9 billion. With regulatory approval, the merger may require C&S to purchase an additional 237 stores from Kroger and Albertsons, Kroger said last year. Washington state's attorney general filed a lawsuit Monday seeking to block the proposed merger, calling it "harmful" for shoppers and workers.
Persons: Rodney McMullen, Kroger, , Elizabeth Warren, Bernie Sanders, Alexandria Ocasio, Cortez Organizations: Albertsons, Antitrust, Consumer, Capitol, S Wholesale Grocers, Federal Trade Commission, Kroger, Safeway, Acme, Washington, & $ Locations: Washington, Sens, Alexandria
Food inflation is slowing down heading into 2024, according to the largest supermarket chain in the US. Executives at Kroger said they expect food inflation "in the low single-digits'" in the new year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Food inflation peaked over the last two years in June 2022, when federal data showed prices rising 9%. Walmart is also expecting relief from food inflation, CEO Doug McMillon said earlier this month.
Persons: , Gary Millerchip, Kroger, Millerchip, Rodney McMullen, Doug McMillon Organizations: US, Kroger, Service, Bank of America, Walmart Locations: Nashville , Tennessee
Kroger CEO: We continue to expect 'slight inflation' in 2024
  + stars: | 2023-11-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKroger CEO: We continue to expect 'slight inflation' in 2024Kroger CEO Rodney McMullen joins 'Squawk on the Street' to discuss what led McMullen to downgrade Kroger's expectations on sales growth, any big changes in consumer behavior during the quarter, and more.
Persons: Rodney McMullen, McMullen Organizations: Kroger
U.S. Senate panel sends three FTC nominations to full Senate
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +1 min
Federal Trade Commissioner Rebecca Slaughter testifies on the "Oversight of the Federal Trade Commission" before the U.S. Senate Consumer Protection, Product Safety, Insurance and Data Security Subcommittee in the Russell Senate Office Building in Washington, U.S., November 27, 2018. REUTERS/Leah Millis/File Photo Acquire Licensing RightsWASHINGTON, Oct 18 (Reuters) - The U.S. Senate Commerce Committee voted on Wednesday to send three nominations for the U.S. Federal Trade Commission to the full Senate. THE TAKEIf confirmed by the Senate, as expected, adding the two Republicans will not change the balance of power at the five-member FTC, which also enforces antitrust law. A previous Republican FTC commissioner, Christine Wilson, quit this year and sharply criticized agency leadership. Reporting by Diane Bartz; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Persons: Rebecca Slaughter, Leah Millis, Andrew Ferguson, Melissa Holyoak, Lina Khan, Christine Wilson, Diane Bartz, Jonathan Oatis Organizations: Federal, Federal Trade Commission, U.S . Senate Consumer Protection, Safety, Insurance, Data, Russell Senate, REUTERS, Rights, U.S, Senate, U.S . Federal Trade Commission, Democrat, FTC, Democratic, Amazon.com, Albertsons, Republican, Thomson Locations: Russell, Washington , U.S, Virginia, Utah
[1/2] The Kroger supermarket chain's headquarters is shown in Cincinnati, Ohio, U.S., June 28, 2018. Bonta said the decision has not been made, but added: "Right now there's not a lot of reason not to sue." In September, the companies announced a plan to sell more than 400 grocery stores to C&S Wholesale Grocers in an effort to get regulatory approval for the deal. A Kroger spokesperson said only non-unionized retailers, like Walmart and Amazon, will benefit if the merger is blocked. Research from the University of Southern California in 2021 found one in three neighborhoods in 30 populous U.S. cities had inadequate access to needed pharmacy services.
Persons: Lisa Baertlein, Rob Bonta, Bonta, Lina Khan, Diane Bartz, Leslie Adler, Bill Berkrot, Aurora Ellis Organizations: Kroger, REUTERS, Rights, Albertsons, S Wholesale Grocers, Walmart, U.S, Water Watch, Federal Trade, FTC, University of Southern, Thomson Locations: Cincinnati , Ohio, U.S, California, America, Food, Washington, University of Southern California
Amazon Prime members in the US will soon be able to get free grocery delivery orders from Amazon Fresh when they spend over $100 on the site, Insider has learned. In an email to Insider, Claire Peters, Amazon's worldwide VP of Amazon Fresh, said the change will go into effect Thursday afternoon. Amazon offers grocery delivery to Prime members in more than 3,500 cities and towns across the U.S. Non-Prime members in a dozen metro areas, including Austin, Boston, and San Diego, can also receive grocery deliveries. Amazon is considering a separate, standalone grocery subscription service for Prime members, as Insider previously reported . The internal document about the new Fresh fee structure reflects Amazon's willingness to keep investing in the Fresh grocery business.
Persons: Claire Peters, Peters, Amazon's, it's, Amazon, It's, Brian Olsavsky, Eugene Kim Organizations: Amazon, Foods, U.S . Locations: Austin, Boston, San Diego
Wall Street largely took documents from the meeting and comments from Federal Reserve chair Jerome Powell to imply higher-for-longer interest rates. Against this backdrop, here's the list of defensive stocks to play a mixed market, compiled using the new CNBC Pro stock screening tool . All stocks on the list meet the following criteria: Beta rating, which measures a stock's implied risk to market moves, under one. A beta rating above one typically indicates higher volatility. Fast-food giant McDonald's has a 0.65 beta rating, and its stock has added about 3% from the start of the year.
Persons: Jerome Powell, Powell, Mondelez Organizations: CNBC Pro, Federal, Fed, Nasdaq, Dow Jones, Kroger, Friday's, KR, Hasbro, Lionsgate, Bunge
But it has created risk that customers could turn to retailers known for lower food prices, such as Walmart, Aldi or Dollar General . Kroger reaffirmed its full-year guidance, saying it expects identical sales excluding fuel to range between 1% and 2%. In an earnings release, he said the grocer expects inflation to "continue to decelerate" and expects a tougher backdrop for consumers in the months ahead. Kroger CEO Rodney McMullen said on an earnings call that slowing inflation could lift sales in another way. He said Kroger has stepped up security and added new tech to try to fight crime, but said Kroger expects the theft trends "will continue to be a challenge for the remainder of the year."
Persons: Kroger, Fred Meyer, Ralphs, King Soopers, Gary Millerchip, Rodney McMullen, McMullen, Millerchip Organizations: Kroger, LSEG, Target, Walmart, Aldi, Express, U.S . Bureau of Labor Statistics, Albertsons, S Wholesale Grocers, Grand Union Locations: U.S, Florida, Washington ,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPharma investors should strategize trades around obesity drug offerings, says Grasso Global CEOSteve Grasso, Grasso Global CEO, joins 'Power Lunch' to discuss how to trade the news of Kroger's opioid settlement, momentum growing in the biotech sector, and how Snowflake could benefit from AI.
Persons: Grasso, Steve Grasso Organizations: Email Pharma, Grasso Global
The deal value and the number of stores included in the transaction could not be immediately learned. C&S lost one of its largest customers, Ahold Delhaize (AD.AS), when the supermarket group decided to transition to self-distribution in 2019. Kroger, Albertsons, C&S and SoftBank did not respond to Reuters' request for a comment. Reuters had reported in February that Kroger and Albertsons were advancing their plans to sell between 250 and 300 stores that they hope will alleviate U.S. antitrust concerns over their combination. In March, the companies reiterated that they would divest some stores to win the regulatory clearance required to go ahead with the merger.
Persons: Ahold, SoftBank, Kroger's, Juby Babu, Anirban Sen, Abigail Summerville, Sherry Jacob, Phillips, Rashmi Organizations: S Wholesale Grocers, SoftBank, Kroger, Albertsons Companies Inc, Reuters, Bloomberg, Albertsons, Federal Trade Commission, Thomson Locations: Pacific Northwest, Southern California, Phoenix, Chicago, Bengaluru, New York
US antitrust regulator names Henry Liu to head competition unit
  + stars: | 2023-08-22 | by ( ) www.reuters.com   time to read: +2 min
Federal Trade Commission seal is seen at a news conference in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsAug 22 (Reuters) - The U.S. Federal Trade Commission (FTC) said on Tuesday that Henry Liu, a partner at law firm Covington Burling, would be the new director of the commission's Bureau of Competition. "I'm excited to have Henry at the helm of the Bureau of Competition," Chair Lina Khan said in a statement. At Covington & Burling, where he worked for 14 years, Liu rose to be a partner in litigation and antitrust practices, according to the statement. Liu went to Yale Law School, graduating in 2007, according to his LinkedIn page.
Persons: Yuri Gripas, Henry Liu, Covington, Liu, Henry, Lina Khan, R, Guy Cole Jr, Bill Clinton, Diane Bartz, Ismail Shakil, Rami Ayyub, Cynthia Osterman Organizations: Federal Trade Commission, REUTERS, U.S . Federal Trade Commission, Competition, Meta's Facebook, Amazon.com, FTC, Big Tech, Justice Department, Albertsons, Covington &, Yale Law School, U.S ., Appeals, Sixth Circuit, Thomson Locations: Washington , U.S, commission's, Covington, Covington & Burling, Washington, Ottawa
Kroger has quietly become the biggest sushi seller in the US, The Wall Street Journal reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Sushi sales at US retailers were up 72% in the past year, according to a report by The Wall Street Journal. It began selling sushi in the early 1990s, but realized it had become the country's biggest sushi retailer in 2020 when reviewing data from the research firm Circana Group, the Journal noted. "The California Crunch roll is our most popular cooked sushi roll, and the Rainbow Roll is the most popular raw sushi roll," the spokesperson told Insider by email.
Persons: Kroger, sushi's, Stuart Aitken, it's Organizations: Street Journal, Service, Wall Street, Circana Group, Kroger Locations: Wall, Silicon, West Coast, California, Ohio, , New York
Research from the University of Southern California in 2021 found one in three neighborhoods in 30 populous U.S. cities were "pharmacy deserts." California Attorney General Rob Bonta has previously said he was "deeply concerned" about the proposed merger. "Post-transaction, Kroger will operate the pharmacies that are part of the Albertsons' stores that it acquires," the spokesperson said. Neither of the people who spoke with Reuters about pharmacy deserts knew if enforcers would file a lawsuit aimed at stopping the proposed transaction or when enforcers would decide what action to take on Kroger's plan to buy Albertsons. One source told the California attorney general's office that low income people were likely to lose access to pharmacy services, which include vaccinations, if the deal goes forward.
Persons: Kroger, Rob Bonta, Biden, Diane Bartz, Anna Driver Organizations: Albertsons, REUTERS, Rights, University of Southern, Reuters, Walmart, U.S, Kroger, Water Watch, Federal Trade Commission, Thomson Locations: Riverside , California, U.S, California, University of Southern California, Food
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - Officials from seven U.S. states wrote to U.S. antitrust enforcers on Wednesday to ask for Kroger's (KR.N) proposed $24.6 billion acquisition of Albertsons (ACI.N) to be stopped. In a letter to Federal Trade Commission (FTC) Chair Lina Khan, the secretaries of state said that the deal would give a combined Kroger/Albertsons nearly a quarter of the U.S. food retail market. Large, non-unionized competitors such as Walmart and Amazon would be the only parties to benefit if it were blocked, the spokesperson said. While federal antitrust agencies often work with state attorneys general on merger reviews, they do not usually work with secretaries of state, who in many states have a more limited business-oversight role. Reporting by Diane Bartz and Jasper Ward; editing by Susan Heavey, Sharon Singleton and Andy SullivanOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Lina Khan, Diane Bartz, Jasper Ward, Susan Heavey, Sharon Singleton, Andy Sullivan Organizations: Kroger Co, New York Stock Exchange, REUTERS, Rights, Albertsons, Federal Trade Commission, Kroger, Walmart, Amazon, FTC, Thomson Locations: New York City, U.S, Colorado , Arizona , Maine, Minnesota, New Mexico, Rhode Island and Vermont
Merger arbitrage investors have been struggling this year. Play the gap Merger arbitrage can be a tricky strategy for regular investors to incorporate. Investors can buy into the following funds for exposure to merger arbitrage: The Arbitrage Fund (ARBNX) The Merger Fund (MERIX) The NexPoint Merger Arbitrage fund (HMEAX) The First Trust Merger Arbitrage ETF (MARB) The IQ Merger Arbitrage ETF (MNA) To be sure, many of these funds charge a hefty fee. Kroger and Albertsons , the two largest biggest grocers by revenue, just notched a regulatory win after a judge dismissed a consumer lawsuit challenging the $25 billion merger. Tower Semiconductor is trading for around $34 a share such that the arbitrage spread stands at more than 50%.
Persons: Activision Blizzard, Andrew Beer, Dealmaking, John Orrico, Salvatore Bruno, VMware's, Black Knight, it's Organizations: Federal Trade Commission, Activision, FTC, Microsoft, Hedge Fund Research, Beta Investments, Global, Horizon Therapeutics, Activision Blizzard, Broadcom, VMware, Intercontinental Exchange, Black, CNBC, Kroger, Albertsons, Intel, Semiconductor Locations: Island, Water Island, British, Israel
[1/2] A customer leaves an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Riverside, California, U.S., October 14, 2022. It is unclear if the FTC will try to stop the transaction or when a decision would be reached. "Kroger and the FTC are focused on ensuring that any divested stores are positioned for success," the company said in a statement. Between them, Kroger and Albertsons operate nearly 5,000 stores with more than 800 in California. FTC staff spoke with the group in April.
Persons: Kroger, Biden, I'm, Rob Bonta, Chris Jones, We're, we're, Jones, Dan Waldvogle, Waldvogle, Sara John, Mayor Diego Plata, Diane Bartz, Chris Sanders, Anna Driver Organizations: Albertsons, REUTERS, Federal Trade Commission, Staff, FTC, Kroger, National Grocers Association, Walmart, Rocky Mountain Farmers Union, Center for Science, Safeway, Mayor, Thomson Locations: Riverside , California, U.S, Colorado, California, COVID, Colorado's Rocky, Gunnison, Plata
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKroger CEO Rodney McMullen: Customers on a budget are shopping more frequently but spending less per tripKroger CEO Rodney McMullen sit down with 'Mad Money' host Jim Cramer to talk its merger with Albertsons, Kroger's Back to School campaign and more.
Persons: Kroger, Rodney McMullen, Jim Cramer Organizations: Albertsons
Kroger CEO Rodney McMullen goes one-on-one with Jim Cramer
  + stars: | 2023-07-26 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Kroger CEO Rodney McMullen goes one-on-one with Jim CramerKroger CEO Rodney McMullen sit down with 'Mad Money' host Jim Cramer to talk its merger with Albertsons, Kroger's Back to School campaign and more.
Persons: Rodney McMullen, Jim Cramer Kroger, Jim Cramer Organizations: Albertsons
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