Content about The Kroger Co.

Cincinnati -- The Kroger Co. on Thursday reported a better-than-expected profit for its fourth quarter profit amid a surge in sales.

For the period ending Feb. 2, Kroger earned $461.5 million, compared to the year ago period when the company reported a loss of $306.9 million as pension costs dragged down results.

Revenue rose 12.8% to $24.2 billion. Same-store sales increased 3% for the quarter, excluding fuel. After adjusting for the extra week in the fourth quarter, total sales increased by 3.7% over the fourth quarter of fiscal 2011.

Cincinnati -- The Kroger Co. announced the promotion of Lynn Gust as president of the company's Fred Meyer Stores division. Gust, 59, has been senior VP operations since 2011.

“Lynn's long history with Fred Meyer and deep knowledge of our business will serve our customers well,” said Rodney McMullen, president and COO of Kroger. “His passion for our employees and customers make him a great fit to carry on the Fred Meyer tradition.”

Cincinnati -- The Kroger Co. announced Marnette Perry has been named SVP, strategic initiatives and operations, and Michael Ellis has been named SVP, retail divisions. The appointments support Kroger's long-term growth plans announced last week.

Perry recently led the team responsible for Kroger's "faster checkout" rollout, which the chain said has reduced customer wait times at checkout from an average of four minutes to 30 seconds.

Executive compensation has always been a hot topic in corporate America — and the retail industry is no exception. These days, two trends are upping the attention paid to pay at the top: the ongoing move to performance-based equity, and the scrutiny compensation packages are receiving from increased SEC regulations and shareholder involvement.

Cincinnati -- The Kroger Co. reported a better-than-expected second quarter profit of $279.1 million, down from $280.8 million a year ago. The supermarket company raised its forecast for the full year, buoyed by its strong loyalty program and its ability to keep costs in line.

Revenue, including fuel, rose 3.9% to $21.73 billion.

Cincinnati -- The Kroger Co. reported Thursday that net income in the first quarter rose to $439.4 million, from $432.3 million last year.

The operator of namesake stores as well as Ralphs, Food 4 Less and others, also said it authorized a $1 billion share buyback.

Sales during the period were $29.06 billion, up from $27.46 billion last year but missing Wall Street’s expected $29.16 billion. Same-store sales rose 4.2%, the grocer’s 34th straight quarter of growth.

New York -- The Kroger Co. appointed Suzanne Lindsay as its first director of sustainability. Prior to Kroger, Lindsay led sustainability initiatives at PetSmart.

“We have made substantial progress in sustainability in the past five years through energy savings, waste reduction, transportation efficiency and by reducing the use of plastic bags,” said Lynn Marmer, group VP, corporate affairs at Kroger. “Suzanne will help us accelerate our progress and identify new opportunities to improve our environmental stewardship.”

Cincinnati -- The Kroger Co. said Thursday that its board of directors has approved a $1 billion share repurchase program.

The new program replaces an existing authorization that has about $213 million remaining. The authorization is expected to be used over the next 12 months, according to Kroger.
 

Memphis -- The Kroger Co. said Friday that its Kroger Delta Division, based in Memphis, has acquired eight Memphis-area Schnucks grocery stores that the company will convert and re-open under the Kroger banner over the next few weeks.

Currently, Kroger operates 37 stores in the Memphis metropolitan area, and the acquisition ups the area store count to 43, with two of the acquired Schnucks locations replacing two smaller existing Kroger locations.

Cincinnati -- The Kroger Co. said Tuesday that it has promoted its current Quality Food Centers division president Donna Giordano to president of the Ralphs Division.

Giordano, who has been based in Seattle with QFC, replaces Mike Donnelly, who was promoted to senior VP merchandising for Kroger. She will be based in Los Angeles.
 

Chicago -- Jones Lang LaSalle announced Wednesday that The Kroger Co. is undertaking an initiative with JLL to conduct a strategic review of a group of its retail assets, in tandem with Kroger’s divisional real estate teams, to explore optimization strategies for a select portfolio of operating stores.

In addition, Jones Lang LaSalle has been selected, among others, to participate in developing disposition strategies for a portion of the retailer’s closed store portfolio.