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Kroger (KR) to Set Up Fulfillment Center in North Carolina
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The Kroger Co. (KR - Free Report) is consistently expanding its Customer Fulfillment Centers (CFCs) to new geographies for enriching customers’ shopping experience amid a dynamic retail landscape.
In latest developments, Kroger will set up a new customer fulfillment center (CFC) in North Carolina, which will be powered by Ocado Group, a renowned technology firm providing online grocery fulfilment solutions. Via the latest CFC, KR looks forward to serving the state’s communities with a more efficient e-commerce delivery service coupled with vertical integration, machine learning and robotics offering quick, economical and fresh food delivery.
We note that the latest 200,000-square feet CFC is likely to become operational within 24 months and looks to generate nearly 700 jobs in the coming five years. Kroger remains committed to open sites in California, Dallas, TX, Forest Park, GA (Atlanta), Frederick, MD, Phoenix, AZ, Pleasant Prairie, WI, Romulus, MI (Detroit), South Florida, the Northeast, Pacific Northwest and the West.
Kroger is steadily expanding the CFCs to ensure efficient deliveries. We believe that this process of providing fresh food via interconnected, automated and innovative expedite deliveries will boost sales for Kroger. As e-commerce services quadrupled in the current times of unprecedented crisis, demand for online deliveries for grocery and other essentials is here to stay. KR is likely to capitalize on the prevailing trends.
What’s More?
Kroger is making every effort to strengthen its position not only with respect to products but also in terms of the way consumers shop. Management continues making investments to enhance product freshness and quality as well as expand digital capabilities. Further, KR is augmenting “Our Brands” portfolio by launching products.
Kroger’s digital business remains one of the key growth drivers. KR has been focusing on no-contact delivery option, low-contact pickup service and ship-to-home orders for a while. Its ‘Kroger Delivery Now’ service in collaboration with Instacart provides customers with food and household staples at affordable prices in 30 minutes.
KR also extends contactless payment solutions like Kroger Pay, Scan and Bag and Go. We note that digital sales surged 103% during the third quarter of fiscal 2021 on a two-year stacked basis. Kroger remains committed to double digital sales by 2023.
Image Source: Zacks Investment Research
Such well-chalked expansion efforts aided this currently Zacks Rank #3 (Hold) player’s shares to have increased 37.5% so far this year against the industry’s 0.3% decline.
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, sports a Zacks Rank #1 (Strong Buy) at present. The stock has jumped 196.3% in the year-to-date period. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and earnings per share (EPS) suggests growth of 54.6% and 188%, respectively, from the year-ago period’s corresponding figures. BOOT has a trailing four-quarter earnings surprise of 35.3%, on average.
Tractor Supply Company, a rural lifestyle retailer in the United States, currently flaunts a Zacks Rank of 1. TSCO has a trailing four-quarter earnings surprise of 22.8%, on average. Shares of TSCO have surged 69% year to date.
The Zacks Consensus Estimate for Tractor Supply Company’s current-year sales and EPS suggests growth of 19% and 23.9%, respectively, from the year-ago period’s corresponding readings. TSCO has an expected EPS growth rate of 10.2% for three-five years.
Target, a renowned omni-channel retailer, presently carries a Zacks Rank #2 (Buy). TGT has a trailing four-quarter earnings surprise of 19.7%, on average. The stock has rallied 37.8% in the year-to-date period.
The Zacks Consensus Estimate for Target’s current-year sales and EPS suggests growth of 13.9% and 40.1%, respectively, from the corresponding year-ago period’s levels. TGT has an expected EPS growth rate of 14.4% for three-five years.
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Kroger (KR) to Set Up Fulfillment Center in North Carolina
The Kroger Co. (KR - Free Report) is consistently expanding its Customer Fulfillment Centers (CFCs) to new geographies for enriching customers’ shopping experience amid a dynamic retail landscape.
In latest developments, Kroger will set up a new customer fulfillment center (CFC) in North Carolina, which will be powered by Ocado Group, a renowned technology firm providing online grocery fulfilment solutions. Via the latest CFC, KR looks forward to serving the state’s communities with a more efficient e-commerce delivery service coupled with vertical integration, machine learning and robotics offering quick, economical and fresh food delivery.
We note that the latest 200,000-square feet CFC is likely to become operational within 24 months and looks to generate nearly 700 jobs in the coming five years. Kroger remains committed to open sites in California, Dallas, TX, Forest Park, GA (Atlanta), Frederick, MD, Phoenix, AZ, Pleasant Prairie, WI, Romulus, MI (Detroit), South Florida, the Northeast, Pacific Northwest and the West.
Kroger is steadily expanding the CFCs to ensure efficient deliveries. We believe that this process of providing fresh food via interconnected, automated and innovative expedite deliveries will boost sales for Kroger. As e-commerce services quadrupled in the current times of unprecedented crisis, demand for online deliveries for grocery and other essentials is here to stay. KR is likely to capitalize on the prevailing trends.
What’s More?
Kroger is making every effort to strengthen its position not only with respect to products but also in terms of the way consumers shop. Management continues making investments to enhance product freshness and quality as well as expand digital capabilities. Further, KR is augmenting “Our Brands” portfolio by launching products.
Image Source: Zacks Investment Research
Kroger’s digital business remains one of the key growth drivers. KR has been focusing on no-contact delivery option, low-contact pickup service and ship-to-home orders for a while. Its ‘Kroger Delivery Now’ service in collaboration with Instacart provides customers with food and household staples at affordable prices in 30 minutes.
KR also extends contactless payment solutions like Kroger Pay, Scan and Bag and Go. We note that digital sales surged 103% during the third quarter of fiscal 2021 on a two-year stacked basis. Kroger remains committed to double digital sales by 2023.
Such well-chalked expansion efforts aided this currently Zacks Rank #3 (Hold) player’s shares to have increased 37.5% so far this year against the industry’s 0.3% decline.
Hot Stocks in Retail
Some other top-ranked stocks are Boot Barn Holdings (BOOT - Free Report) , Tractor Supply Company (TSCO - Free Report) and Target (TGT - Free Report) .
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, sports a Zacks Rank #1 (Strong Buy) at present. The stock has jumped 196.3% in the year-to-date period. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and earnings per share (EPS) suggests growth of 54.6% and 188%, respectively, from the year-ago period’s corresponding figures. BOOT has a trailing four-quarter earnings surprise of 35.3%, on average.
Tractor Supply Company, a rural lifestyle retailer in the United States, currently flaunts a Zacks Rank of 1. TSCO has a trailing four-quarter earnings surprise of 22.8%, on average. Shares of TSCO have surged 69% year to date.
The Zacks Consensus Estimate for Tractor Supply Company’s current-year sales and EPS suggests growth of 19% and 23.9%, respectively, from the year-ago period’s corresponding readings. TSCO has an expected EPS growth rate of 10.2% for three-five years.
Target, a renowned omni-channel retailer, presently carries a Zacks Rank #2 (Buy). TGT has a trailing four-quarter earnings surprise of 19.7%, on average. The stock has rallied 37.8% in the year-to-date period.
The Zacks Consensus Estimate for Target’s current-year sales and EPS suggests growth of 13.9% and 40.1%, respectively, from the corresponding year-ago period’s levels. TGT has an expected EPS growth rate of 14.4% for three-five years.