Kroger and Vitacost.com on Wednesday announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Vitacost.com for $8 per share in cash, or approximately $280 million.
Starting off the year with a strong momentum, Kroger posted a 9% increase in first-quarter sales, which marked the first period that includes Harris Teeter in the statement of operations. Based on its strong quarter, the company has raised its fiscal 2014 guidance.
Kroger on Friday announced it has named Rick Going president of the company's new Nashville division, Calvin Kaufman president of the new Louisville division, Jayne Homco president of the Michigan division and Erin Sharp group VP of Kroger manufacturing.
Kroger on Wednesday announced a pair of executive appointments — Marnette Perry will assume the role of SVP strategic initiatives and operations, while Michael Ellis has been named SVP retail divisions.
Consumer sentiment toward the economy continues to be negative, acknowledged David Dillon, Kroger chairman and CEO, a factor that may drive many consumers toward more of the value-driven store brands in which Kroger is investing.