Grocery giant Kroger named former Walmart executive Greg Foran as its new CEO. Foran took the job Monday (Feb. 9) and succeeds Ron Sargent, who had been acting as the company's interim CEO since March, Kroger said in a Monday news release.
Kroger is a resilient, value 'Buy', amid market volatility, offering defensive growth and operational leverage. KR's e-commerce sales are a core growth driver, achieving a $14B annual run-rate and six quarters of double-digit growth, supported by third-party fulfillment partnerships. Management guides for 7% EPS growth in FY2026, driven by private-label strength, AI efficiencies, and accelerated store expansion.
Kroger's stock rallies after the grocer named Greg Foran, the former leader of Walmart U.S. as its new CEO after a nearly yearlong search.
The US grocer has been searching for a permanent CEO after the company ousted Rodney McMullen last year in the wake of a board investigation that found that his personal conduct was "inconsistent" with certain company policies.
Greg Foran would steer the big grocer as it deals with cash-strapped shoppers and seeks to expand its footprint.
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Kroger (KR) concluded the recent trading session at $64.17, signifying a +1.76% move from its prior day's close.
Kroger (KR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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Kroger (KR) closed at $62.11 in the latest trading session, marking a -2.48% move from the prior day.
Kroger: Value Investment In An Expensive Market