Retail Giant Kroger's New Normal - Reportedly Plans Shift To More In-Office Workdays Starting Next February
Portfolio Pulse from Shivani Kumaresan
Kroger Co (NYSE:KR) is planning to increase in-office workdays for its associates starting February next year, transitioning from the remote work model popularized during the COVID-19 pandemic. The change will affect approximately 5,800 employees in Cincinnati and other locations such as North Carolina, Illinois, and Florida, who will be required to return to their assigned offices for three to four days a week. Kroger, which employs nearly 430,000 people, had been encouraging a minimum of two in-office days since June 2021. The company also recently raised the lower end of its FY23 adjusted EPS guidance. Kroger's stock closed lower by 1.86% at $44.25 on Tuesday.
December 13, 2023 | 10:43 am
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Kroger plans to shift to more in-office workdays, affecting 5,800 associates, and has raised its FY23 EPS guidance. The stock recently closed down at $44.25.
The shift to more in-office workdays is a significant operational change that could impact employee satisfaction and productivity, but it is not directly related to financial performance. The raised EPS guidance is a positive signal for financial health, which could counterbalance any negative sentiment from the operational change. The recent drop in stock price may be due to broader market movements rather than this specific news.
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