Kroger CEO Says In 2024, Building More New Stores To Support Long-Term Growth Model; Expect To Launch More Than 800 New Products In Private-Label Portfolio In 2024; In 2023, Customers Clipped 4B Coupons, 1B More Compared To 2022
Portfolio Pulse from Benzinga Newsdesk
Kroger's CEO announced plans for long-term growth, including building more new stores in 2024 and launching over 800 new products in their private-label portfolio. In 2023, customers used 4 billion coupons, a significant increase from the previous year.
March 07, 2024 | 3:16 pm
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Kroger plans to expand its store count and private-label portfolio in 2024, indicating a strong growth strategy. The increase in coupon usage in 2023 suggests robust customer engagement.
The announcement of new store openings and an expanded private-label portfolio directly impacts Kroger's growth prospects and customer base expansion. The significant increase in coupon usage indicates strong customer loyalty and engagement, which are positive indicators for future revenue growth. These factors combined suggest a likely positive impact on Kroger's stock price in the short term.
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