Kroger announces $5 billion customer investment and growth strategy

Kroger has unveiled a multiyear growth strategy aimed at achieving approximately 3% comparable-store sales growth by 2029. The plan centers on a $5 billion investment in customer value through lower prices and improved promotions, alongside a goal to generate $4 billion in annualized structural cost savings.

CEO Greg Foran described the initiative as a reset to improve store execution, expand digital sales, and grow private brands. To fund these efforts and reduce corporate complexity, the retailer plans to open approximately 110 new stores and eliminate 3,000 corporate roles over the next three years.

The announcement follows a second quarter where net sales reached $34.6 billion, though identical sales growth without fuel slowed to 0.2%. While adjusted e-commerce sales grew by 20%, the company lowered its forecast for identical sales growth without fuel to a range of 0.2% to 0.8%.