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Kroger (KR), BBBY Extend Deal to Boost Online Experience
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The Kroger Co. (KR - Free Report) is making stupendous efforts to strengthen its position not only with respect to products but also in terms of the way consumers shop. In the latest developments, this renowned grocery retailer in collaboration with Bed Bath & Beyond launched the companies' e-commerce experience. This omni-channel partnership of Kroger and Bed Bath & Beyond dates back to November 2021. Customers can easily access grocery staples, essential home and baby products via this alliance.
This e-commerce partnership enabled by KR's Ship marketplace added multiple items from BBBY and buybuy BABY. This digital experience is further classified into convenient shoppable categories to aid customers find exactly what they require. Consumers can browse their favorite articles like Bed Bath & Beyond's exclusive Owned Brands, including NestwellTM, Haven, Simply EssentialTM, Our TableTM, Wild SageTM, Squared AwayTM, Studio 3BTM and H for HappyTM along with its key national brands.
Certain popular items presently available on Kroger.com from Bed Bath & Beyond include 12-inch Preseasoned Cast Iron Skillet Table, Haven Organic Cotton Flatweave Bath Towel, Nestwell Washed Linen Cotton 3-Piece Full/Queen Duvet Cover Set and more. Items from buybuy BABY on Kroger’s website are SKIP*HOP Silver Lining Cloud Activity Center and Exerciser, Graco 4Ever® DLX 4-in-1 Convertible Car Seat and a lot more. We note that a branded shop-in-shop experience piloted at certain stores will be followed.
The latest alliance enhances Kroger’s e-commerce selection, allowing customers to avail several items, including home-related products in a single digital transaction. This provides them with greater convenience and save their time too. At BBBY’s end, this collaboration will enhance its customers’ base via KR’s extensive reach. Bed Bath & Beyond informed that it is on track with designing KR’s in-store pilot program, which is expected to be launched later in 2022.
What’s More?
Kroger has been making investments for a while to enhance product freshness and quality as well as expand its digital capabilities. Further, it is been augmenting “Our Brands” portfolio by launching products. KR’s digital business remains one of its key drivers, thanks to its Kroger Delivery Now, Boost membership program and the rollout of customer fulfillment centers. We note that digital sales surged 105% during the fourth quarter of fiscal 2021 on a two-year stacked basis. Management remains committed to double the digital sales by 2023.
Kroger is also making concerted efforts to ease deliveries of fresh grocery. Management is equally focused on improving product quality and expanding the digital capabilities. KR has been focusing on a 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 launched Kroger Floral pilot in partnership with DoorDash in the Houston and Dallas divisions. KR had earlier announced its Kroger Drone Delivery pilot in partnership with Drone Express, reinforcing the importance of timely delivery to customers. Moreover, KR continued expanding its contactless payment solutions like Kroger Pay, Scan, and Bag and Go. Besides, KR expanded its customer fulfillment centers to ensure efficient deliveries.
Target, the leading omni-channel retailer, presently flaunts a Zacks Rank of 1. TGT has a trailing four-quarter earnings surprise of 21.3%, on average.
The Zacks Consensus Estimate for Target’s current financial year’s sales and earnings per share (EPS) suggests growth of 3.5% and 6.7%, respectively, from the corresponding year-ago levels. TGT has an expected EPS growth rate of 16.5% for three-five years.
Costco, a general merchandise retailer, has a Zacks Rank #2 (Buy) at present. COST has a trailing four-quarter earnings surprise of 13.3%, on average.
The Zacks Consensus Estimate for Costco’s current financial year’s sales and EPS suggests growth of 12.3% and 17%, respectively, from the year-ago corresponding figures. COST has an expected EPS growth rate of 8.9% for three-five years.
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Kroger (KR), BBBY Extend Deal to Boost Online Experience
The Kroger Co. (KR - Free Report) is making stupendous efforts to strengthen its position not only with respect to products but also in terms of the way consumers shop. In the latest developments, this renowned grocery retailer in collaboration with Bed Bath & Beyond launched the companies' e-commerce experience. This omni-channel partnership of Kroger and Bed Bath & Beyond dates back to November 2021. Customers can easily access grocery staples, essential home and baby products via this alliance.
This e-commerce partnership enabled by KR's Ship marketplace added multiple items from BBBY and buybuy BABY. This digital experience is further classified into convenient shoppable categories to aid customers find exactly what they require. Consumers can browse their favorite articles like Bed Bath & Beyond's exclusive Owned Brands, including NestwellTM, Haven, Simply EssentialTM, Our TableTM, Wild SageTM, Squared AwayTM, Studio 3BTM and H for HappyTM along with its key national brands.
Certain popular items presently available on Kroger.com from Bed Bath & Beyond include 12-inch Preseasoned Cast Iron Skillet Table, Haven Organic Cotton Flatweave Bath Towel, Nestwell Washed Linen Cotton 3-Piece Full/Queen Duvet Cover Set and more. Items from buybuy BABY on Kroger’s website are SKIP*HOP Silver Lining Cloud Activity Center and Exerciser, Graco 4Ever® DLX 4-in-1 Convertible Car Seat and a lot more. We note that a branded shop-in-shop experience piloted at certain stores will be followed.
The latest alliance enhances Kroger’s e-commerce selection, allowing customers to avail several items, including home-related products in a single digital transaction. This provides them with greater convenience and save their time too. At BBBY’s end, this collaboration will enhance its customers’ base via KR’s extensive reach. Bed Bath & Beyond informed that it is on track with designing KR’s in-store pilot program, which is expected to be launched later in 2022.
What’s More?
Kroger has been making investments for a while to enhance product freshness and quality as well as expand its digital capabilities. Further, it is been augmenting “Our Brands” portfolio by launching products. KR’s digital business remains one of its key drivers, thanks to its Kroger Delivery Now, Boost membership program and the rollout of customer fulfillment centers. We note that digital sales surged 105% during the fourth quarter of fiscal 2021 on a two-year stacked basis. Management remains committed to double the digital sales by 2023.
Kroger is also making concerted efforts to ease deliveries of fresh grocery. Management is equally focused on improving product quality and expanding the digital capabilities. KR has been focusing on a 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 launched Kroger Floral pilot in partnership with DoorDash in the Houston and Dallas divisions. KR had earlier announced its Kroger Drone Delivery pilot in partnership with Drone Express, reinforcing the importance of timely delivery to customers. Moreover, KR continued expanding its contactless payment solutions like Kroger Pay, Scan, and Bag and Go. Besides, KR expanded its customer fulfillment centers to ensure efficient deliveries.
Image Source: Zacks Investment Research
This currently Zacks Rank #1 (Strong Buy) player’s shares have increased 29.7% so far in the year compared with the industry’s 6.6% growth. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Hot Stocks in Retail
Two other top-ranked stocks are Target (TGT - Free Report) and Costco (COST - Free Report) .
Target, the leading omni-channel retailer, presently flaunts a Zacks Rank of 1. TGT has a trailing four-quarter earnings surprise of 21.3%, on average.
The Zacks Consensus Estimate for Target’s current financial year’s sales and earnings per share (EPS) suggests growth of 3.5% and 6.7%, respectively, from the corresponding year-ago levels. TGT has an expected EPS growth rate of 16.5% for three-five years.
Costco, a general merchandise retailer, has a Zacks Rank #2 (Buy) at present. COST has a trailing four-quarter earnings surprise of 13.3%, on average.
The Zacks Consensus Estimate for Costco’s current financial year’s sales and EPS suggests growth of 12.3% and 17%, respectively, from the year-ago corresponding figures. COST has an expected EPS growth rate of 8.9% for three-five years.