Kroger (NYSE:KR) Stock, Quote.Headers.trade-ideas

Kroger

Kroger is one of the largest grocery retailers in the United States with more than 2,700 stores across a portfolio of over 20 supermarket banners. The company boasts an ingrained presence in US communities, citing that it is a top-two grocer in most of its major market areas. Over one fourth of Kroger's roughly $110 billion in nonperishable and fresh food sales (about 75% of revenue) stems from its private-label portfolio, of which the company manufactures about 30% of units via its 33 food production plants. The firm also operates fuel stations and pharmacies at 60% and 80% of its locations, respectively.

Kroger: cosa aspettarsi dai risultati del secondo trimestre

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Kroger and Albertsons shares closed lower Tuesday after lawyers for the Federal Trade Commission (FTC) gave closing arguments in a hearing to temporarily block the proposed merger between the two companies. Here&#39;s what to know.

Kroger, Albertsons Shares Dip After FTC Gives Closing Arguments In Hearing To Block Merger

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MrBeast, Logan Paul and KSI have launched Lunchly, a new ready-to-eat offering to take Lunchables on directly with a new alternative.

MrBeast, Logan Paul, KSI Team Up To Launch Lunchly, Take On Lunchables — And Warren Buffett

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Kroger Extends Exchange Offers And Consent Solicitations For Albertsons Companies For Up To $7,441,608,000 Aggregate Principal Amount Of New Notes And Cash; Extends Expiration Date From Sept. 23 To Sept. 27

Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) shares closed lower Tuesday after lawyers for the Federal Trade Commission (FTC) gave closing arguments in a hearing to temporarily block the proposed merger <a href="https://www.benzinga.com/government/24/09/40693260/kroger-albertsons-merger-in-ftc-crosshairs-customers-competitors-at-risk">between the two companies.&nbsp;</a>
The Details: The three-week-long U.S. District Court hearing ended on Tuesday. The FTC urged Judge Adrienne Nelson to issue a preliminary injunction to block the merger while its complaint goes before an in-house administrative law judge on Oct.1.
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The proposed $24.6 billion deal would be the largest supermarket merger in U.S. history, if it goes through. Kroger and Albertsons argue the merger would allow them to lower prices for consumers, boost union jobs and compete with retail giants like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).&nbsp;
According to a Reuters report, the FTC's chief trial counsel Susan Musser argued Tuesday that Kroger and Albertsons primarily compete with each other, rather than Amazon or Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), as well, and the merger would eliminate competition, leading to higher food prices for customers. 
"It's this local competition, in these local communities, that this merger will eliminate," Musser said.
KR, ACI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Kroger shares ended Tuesday's session 2.13% lower at $55.04 and Albertsons shares closed 1.75% lower at $18.54.&nbsp;
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Photo: Shutterstock

Content creators MrBeast, Logan Paul and KSI have teamed up on a new food company called Lunchly that is taking on the well-known<a href="https://www.benzinga.com/markets/equities/23/08/33960652/kraft-heinz-plans-to-offer-lunchables-to-school-cafeterias-sees-multi-billion-opportunity-report"> ready-to-eat Lunchables brand.</a>
What Happened: Food giant Kraft Heinz Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>) may<a href="https://www.benzinga.com/markets/equities/24/01/36680301/this-warren-buffett-favorite-just-made-a-golden-cross-bullish-signals-on-the-horizon"> have trouble ahead</a> for its Lunchables brand with Lunchly now in direct competition.
Lunchly was launched with the "goal of revolutionizing lunch" and providing a focus on quality ingredients, delicious flavors and healthier options for the grab-and-go lunch sector, the creators said.
There are three <a href="https://lunchly.com/">Lunchly </a>meal options at launch: Turkey Stack ‘Ems, Pizza and Fiesta Nachos. Each meal comes with a PRIME hydration drink and a Feastables bar. PRIME was launched in 2022 by Paul and KSI; Feastables was also launched that same year by MrBeast.
Paul said Lunchables has dominated the lunch grab-and-go market for years and Lunchly will provide a "better option" for people looking for convenience and healthy options.
Lunchly products will hit stores later this month. A search on the company's website showed Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) locations as stores that will carry the products.
MrBeast said Lunchly will provide healthier and "better-tasting options.
"Lunchly is all about giving kids a fun, grab-and-go meal that's not just delicious, but also good for them. We're here to change what lunchtime looks like for the next generation," MrBeast, aka Jimmy Donaldson, said.
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Why It's Important: With three of the most widely followed names in content creation and people popular with the younger generation today, Lunchly could present a major challenge to Lunchables.
The news also comes at a bad time for Lunchables, which said in August that it was ready to offer Lunchables in school cafeterias with a potential $25 billion opportunity.
MrBeast is the <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">most followed person </a>on YouTube with 315 million followers. PRIME has been one of the fastest growing beverages since it launched, hitting the <a href="https://www.benzinga.com/trading-ideas/23/11/35711957/logan-paul-ksis-prime-beverage-hits-1-billion-units-sold-should-pepsi-and-coca-cola-be-worried">one billion units sold milestone</a> in November.
Existing distribution deals that Feastables and PRIME have in place could help the company quickly land in retailers globally.
Bad news for Lunchables could also be bad news for billionaire Warren Buffett. Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) owns over 325 million Kraft Heinz shares and more than 25% of the company.
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Photos: MrBeast, Logan Paul, KSI via Shutterstock

The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) (the "Company" or "Kroger") announced today that it has extended the expiration date of the previously announced offers to exchange (the "Exchange Offers") any and all outstanding notes (the "ACI Notes") of Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) ("ACI"), New Albertsons, L.P., Safeway Inc., Albertson's LLC, Albertsons Safeway LLC and American Stores Company, LLC, as applicable, for up to $7,441,608,000 aggregate principal amount of new notes to be issued by the Company (the "Kroger Notes") and cash. Additionally, Kroger announced today that it has extended the expiration date for the related solicitations of consents (collectively, the "Consent Solicitations") to adopt certain proposed amendments (the "Proposed Amendments") to the indentures (collectively, the "ACI Indentures") governing the ACI Notes, solely with respect to the Unconsented Series (as defined in the Company's press release issued on September 11, 2024). The Company hereby extends such expiration date from 5:00 p.m. New York City time on September 17, 2024 to 5:00 p.m. New York City time on September 23, 2024 (as the same may be further extended, the "Expiration Date").

Kroger Has Extended The Expiration Date For Its Exchange Offers And Consent Solicitations Related To Albertsons Companies Notes Until September 23, 2024

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our<a href="http://benzinga.com/analyst-stock-ratings"> analyst ratings page</a>.
<ul>
<li>Wells Fargo cut the price target for Pebblebrook Hotel Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) from $15 to $13. Wells Fargo analyst Dori Kesten maintained an Equal-Weight rating. Pebblebrook Hotel Trust shares rose 1.5% to trade at $12.98 on Friday. S<a href="https://www.benzinga.com/quote/PEB/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>TD Cowen cut the price target for Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) from $70 to $60. TD Cowen analyst Tyler Van Buren maintained a Hold rating. Moderna shares fell 4.9% to trade at $66.25 on Friday. <a href="https://www.benzinga.com/quote/mrna/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities cut Zimmer Biomet Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) price target from $117 to $112. Truist Securities analyst Richard Newitter reiterated a Hold rating. Zimmer Biomet shares gained 1.8% to trade at $107.06 on Friday. <a href="https://www.benzinga.com/quote/zbh/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim raised Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) price target from $185 to $200. Guggenheim analyst John Difucci maintained a Buy rating. Oracle shares rose 1% to trade at $162.87 on Friday. <a href="https://www.benzinga.com/quote/orcl/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised the price target for TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) from $53 to $60. Goldman Sachs analyst Alexander Blostein maintained a Buy rating. TPG shares gained 3% to close at $55.55 on Friday. S<a href="https://www.benzinga.com/quote/tpg/analyst-ratings">ee how other analysts view this stock</a>.</li>
<li>UBS boosted CubeSmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBE#NYSE">CUBE</a>) price target from $53 to $54. UBS analyst Michael Goldsmith downgraded the stock from Buy to Neutral. CubeSmart shares fell 0.2% to trade at $53.81 on Friday. <a href="https://www.benzinga.com/quote/cube/analyst-ratings">See how other analysts view this stoc</a>k.</li>
<li>Stifel cut Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) price target from $121 to $103. Stifel analyst Steve Wieczynski maintained a Buy rating. Wynn Resorts shares rose 3.6% to trade at $79.07 on Friday. <a href="https://www.benzinga.com/quote/wynn/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut the price target for Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) from $110 to $75. Citigroup analyst Scott Gruber downgraded the stock from Buy to Neutral. Nabors Industries shares rose 0.5% to trade at $65.41 on Friday. <a href="https://www.benzinga.com/quote/nbr/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays slashed Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) price target from $181 to $133. Barclays analyst George Wang downgraded the stock from Equal-Weight to Underweight. Garmin shares fell 6.2% to trade at $170.74 on Friday. <a href="https://www.benzinga.com/quote/grmn/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group raised The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) price target from $62 to $63. Evercore ISI Group analyst Michael Montani maintained an Outperform rating. Kroger shares rose 1.1% to trade at $55.81 on Friday. <a href="https://www.benzinga.com/quote/kr/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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JP Morgan analyst Ken Goldman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Overweight and raises the price target from $58 to $59.

JP Morgan Maintains Overweight on Kroger, Raises Price Target to $59

Evercore ISI Group analyst Michael Montani maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Outperform and raises the price target from $62 to $63.

Evercore ISI Group Maintains Outperform on Kroger, Raises Price Target to $63

Morgan Stanley analyst Simeon Gutman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Equal-Weight and raises the price target from $57 to $58.

Morgan Stanley Maintains Equal-Weight on Kroger, Raises Price Target to $58

Telsey Advisory Group analyst Joseph Feldman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Outperform and maintains $62 price target.

Telsey Advisory Group Maintains Outperform on Kroger, Maintains $62 Price Target

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining more than 50 points on Thursday.
The Dow traded down 0.11% to 40,814.73 while the NASDAQ rose 0.33% to 17,453.69. The S&amp;P 500 also rose, gaining, 0.13% to 5,561.28.
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Leading and Lagging Sectors Communication services shares rose by 1.2% on Thursday.
In trading on Thursday, real estate shares dipped by 0.6%.
Top Headline
Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported second-quarter adjusted earnings per share of 93 cents, beating the analyst consensus estimate of 91 cents.
Quarterly sales of $33.912 billion (nearly flat year over year) missed the street view of $34.090 billion. Excluding fuel, sales increased 1.3% compared to the same period last year.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>) shares shot up 33% to $21.17 after the company disclosed a settlement agreement with TP-Link Systems and raised its third-quarter revenue guidance.</li>
<li>Shares of Visionary Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GV#NASDAQ">GV</a>) got a boost, surging 174% to $5.57 after the company announced it signed an MoU with the Public Investment Fund of Saudi Arabia, investing $120 million to fully support the development of its various industry projects.</li>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) shares were also up, gaining 39% to $1.1816. HRT Financial LP acquired a new stake in Smart for Life.</li>
</ul>
Equities Trading DOWN
<ul>
<li>ModivCare Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MODV#NASDAQ">MODV</a>) shares dropped 53% to $14.64 after the company announced a $200 million mixed securities shelf.</li>
<li>Shares of Fulcrum Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULC#NASDAQ">FULC</a>) were down 60% to $3.5508 after the company announced that its Phase 3 REACH trial evaluating losmapimod in patients with FSHD, did not achieve its primary endpoint of change from baseline in RSA with losmapimod compared to placebo.</li>
<li>Oncternal Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCT#NASDAQ">ONCT</a>) was down, falling 58% to $1.7050 after the company announced termination of its clinical studies and exploration of strategic alternatives.</li>
</ul>
Commodities In commodity news, oil traded up 3.1% to $69.36 while gold traded up 1.5% at $2,581.40.
Silver traded up 3.5% to $29.935 on Thursday, while copper rose 1.4% to $4.1995.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.74%, Germany's DAX gained 0.89% and France's CAC 40 rose 0.42%. Spain's IBEX 35 Index rose 1.04%, while London's FTSE 100 rose 0.45%.
The annual inflation rate in Spain eased to 2.3% in August from 2.8% in July, while German wholesale prices fell by 1.1% year-over-year in August.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 jumping 3.41%, Hong Kong's Hang Seng Index gaining 0.77%, China's Shanghai Composite Index falling 0.17% and India's BSE Sensex surging 1.77%.
Manufacturing production in Hong Kong increased 0.7% year-over-year during the second quarter. Producer prices in Japan rose by 2.5% year-over-year in August versus a 3.0% growth in the previous month.
Economics
<ul>
<li>U.S. producer prices rose 0.2% month-over-month in August compared to a revised flat reading in the previous month and higher than market estimates of 0.1%.</li>
<li>U.S. initial jobless claims increased by 2,000 from the earlier week to 230,000 in the week ending Sept. 7.</li>
<li>U.S. natural-gas stocks rose 40 billion cubic feet during the week ended Sept. 6, compared to market estimates of a 49 bcf gain.</li>
</ul>
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Intraday Update

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SMFL

Crude Oil Surges 3%; Kroger Posts Upbeat Earnings

Guidance

Kroger Exec Says Shrink Related To Theft Remains High On A Historical Basis

WIIM

Kroger shares are trading higher following Q2 earnings.

Market Summary

General

Benzinga Market Summary: PPI Figures Mixed, Moderna Cuts R&D Expenses, Kroger Rises On Earnings

Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported second-quarter adjusted earnings per share of 93 cents, beating the analyst consensus<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40830552/kroger-reports-second-quarter-2024-results-and-updates-full-year-identical-sales-without-fuel-guid" rel="noreferrer noopener"> estimate of 91 cents.</a>
Quarterly sales of $33.912 billion (nearly flat year over year) missed the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">street view of $34.090 billion</a>. Excluding fuel, sales increased 1.3% compared to the same period last year.
Kroger&#8217;s results show a 1.2% increase in identical sales excluding fuel, an operating profit of $815 million, and an adjusted FIFO operating profit of $984 million.
&#8220;We are growing households and increasing customer visits by offering a compelling combination of affordable prices and personalized promotions on great quality products, all through a unique seamless experience,&#8221; said &nbsp;CEO&nbsp;Rodney McMullen.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40830598/alaska-air-boosts-q3-earnings-forecast-amid-solid-summer-travel-surge" rel="noreferrer noopener">Alaska Air Boosts Q3 Earnings Forecast Amid Solid Summer Travel Surge</a>
The company achieved strong adjusted free cash flow and successfully executed its go-to-market strategy to deliver value to customers. Digital sales grew by 11%, and there was an increase in total households, customer visits, and loyal households.
Kroger exited the quarter with cash and temporary cash investments of $2.8 billion, with inventories of $6.64 billion.
The company&#8217;s long-term debt, including obligations under finance leases, totaled $12.034 billion.
Kroger&#8217;s net total debt to adjusted EBITDA ratio is 1.24 compared to 1.31 a year ago. The company&#8217;s net total debt to adjusted EBITDA ratio target range is 2.30 to 2.50.
Outlook: Kroger has affirmed its fiscal year 2024 adjusted EPS outlook, projecting a range of $4.30 to $4.50, <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the $4.44 estimate.</a>
&#8220;Our solid sales results through the first two quarters of the year give us the confidence to raise the low end of our full-year identical sales without fuel guidance by 50 basis points,&#8221; said Interim&nbsp;CFO&nbsp;Todd Foley.
The company now expects identical sales without fuel of&nbsp;0.75%&nbsp;to&nbsp;1.75% <a target="_blank" href="https://ir.kroger.com/news/news-details/2024/Kroger-Reports-First-Quarter-2024-Results-and-Reaffirms-Guidance/default.aspx" rel="noreferrer noopener">(prior view</a>: 0.25% to 1.75%).
Price Action: KR shares are trading higher by 1.20% to $52.12 premarket at last check Thursday.
Photo via Shutterstock
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Earnings

Kroger's Mixed Q2 Bag: Steady Sales, Earnings Beat, Revised Identical Sales Outlook & More

Full-Year 2024 Guidance&#x2A;
Reaffirmed
<ul>
<li>Adjusted FIFO Operating Profit of $4.6 &ndash; $4.8 billion</li>
<li>Adjusted net earnings per diluted share of $4.30 &ndash; $4.50</li>
<li>Adjusted Free Cash Flow of $2.5 &ndash; $2.7 billion&#x2A;&#x2A;</li>
<li>Adjusted effective tax rate of 23%&#x2A;&#x2A;&#x2A;</li>
</ul>
Updated
<ul>
<li>Identical Sales without fuel of 0.75% &ndash; 1.75%</li>
<li>Capital expenditures of $3.6 &ndash; $3.8 billion</li>
</ul>

Kroger Affirms FY24 Adj. EPS Outlook $4.30-$4.50 Vs. $4.44 Estimate, Sees Identical Sales +0.75% to +1.75%

Kroger Q2 Identical Sales Ex-Fuel +1.2%

Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.91 by 2.2 percent. This is a 3.12 percent decrease over earnings of $0.96 per share from the same period last year. The company reported quarterly sales of $33.912 billion which missed the analyst consensus estimate of $34.090 billion by 0.52 percent. This is a 0.17 percent increase over sales of $33.853 billion the same period last year.

Earnings Beats

Earnings Misses

Kroger Q2 2024 Adj. EPS $0.93 Beats $0.91 Estimate, Sales $33.912B Miss $34.090B Estimate

U.S. stocks could open Thursday&#8217;s session modestly higher after the remarkable recovery they staged in the previous session. The spotlight is on the producer price inflation report for August as traders seek confirmation regarding a sustained downward move in inflation, and the weekly jobless claims report may also create some ripples. The market may also focus on an interest rate decision from across the Atlantic. The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40827231/top-economist-says-ecb-will-kickstart-global-rate-cuts-warns-investors-of-increased">European Central Bank is widely expected to reduce rates </a>and kickstart a coordinated cut by the global central banks amid a letup in inflation and growth slowdown. That said, some negative tidings from the tech space could lead to some selling.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.10%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.14%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.16%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.48%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE: SPY gained 0.22% to $555.64 and the&nbsp;Invesco QQQ ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) rose 0.16% to $469.37, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Wall Street ended higher on Wednesday &#8211; a session marked with volatility in which the 30-stock Dow Jones Industrial Average moved in a 910-point range. After starting lower in reaction to what was perceived as a not-so-benign August consumer price inflation report and presidential debate held overnight, the averages fell further in early trading. 
Positive comments on the potential of artificial intelligence technology by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang at an industry conference kicked off a rally in the technology space and the broader market. IT stocks soared, leading the market higher, while communication services and consumer discretionary stocks also found buying interest. Defensive consumer staples and real-estate stocks lost ground, and financial and energy stocks extended their declines.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.17%</td>
<td>17,395.53</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.07%</td>
<td>5,554.13</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.31%</td>
<td>40,861.71</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.31%</td>
<td>2,103.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Carson Group Chief Market Strategist Ryan Detrick flagged a data point that holds out promise. While noting that the S&amp;P 500 Index came back from a loss of 1.5% intraday to finish higher by over 1%, he said the last time this happened was exactly at the end of the vicious bear market in Oct. 2022.
&#8220;Looking at previous big reversal days like this shows better than average returns across the board,&#8221; he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The last time the S&amp;P 500 was down &gt;1.5%, but finished up &gt;1%? The exact lows at the end of the vicious bear market in Oct &#39;22. It happened again today. Looking at previous big reversal days like this shows better than avg returns across the board. <a href="https://t.co/mu8jPFEiNM">pic.twitter.com/mu8jPFEiNM</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1834075612719222989?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Following the CPI report, Comerica Chief Economist Bill Adams said the Fed is weighing the &#8220;stickiness of service price inflation on the one hand against the softening of the job market on the other hand.&#8221; The tradeoff points to a 25-basis-point cut at next week&#8217;s Fed meeting, he said. &#8220;The stickiness of service price inflation and shelter inflation suggests the Fed will cut rates slower than financial markets currently price in,&#8221; he added.</figcaption></figure>
See also: <a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 225,000 in the week ended Sept. 7, slightly lower than the previous week&#8217;s 227,000. </li>
<li>The Bureau of Labor Statistics is due to release its August producer price inflation report, also at 8:30 a.m. EDT. The consensus estimates are as follows:
<ul>
<li>PPI (m-o-m): 0.1%, flat with the July rate</li>
<li>PPI (y-o-y): 1.8%, down from 2.2% in July</li>
<li>Core PPI (m-o-m): 0.2% versus unchanged prices in July</li>
<li>Core PPI (y-o-y): 2.5%, up from 2.4% in July</li>
</ul>
</li>
<li>The Treasury will auction four- and eight-week notes at 11:30 a.m. EDT and 30-year bonds at 1 p.m. EDT.</li>
<li>The Treasury is also due to release the federal budget balance report for August at 2 p.m. EDT, with the report widely expected to show of deficit of $285.7 billion compared to a deficit of $244 billion in July.</li>
</ul>
Stocks In Focus:
<ul>
<li>Oxford Industries, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) plunged over 10% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results.</li>
<li>Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Signet Jewelers Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) are scheduled to announce their <a href="https://www.benzinga.com/calendars/earnings">quarterly results before the market opens</a>, while Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) is due after the market closes.</li>
<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) moved down over 2% on a negative analyst action.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) slumped over 7% after the company announced cost-cutting initiatives.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose for a second straight session and gold futures traded flat around the $2,550 level, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied back above $58K. The 10-year yield rose 2.3 basis points to 3.676%. 
Most Asian markets advanced, tracking the firmer close by Wall Street stocks, but China ended modestly lower. European stocks rose solidly in early trading, reacting to the post-noon recovery seen by U.S. stocks on Wednesday and hopes of an ECB rate cut. The decision is due at 8:15 a.m. EDT.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40826658/didnt-take-much-for-nvidia-to-get-people-excited-about-ai-says-strategist-after-jen">&#8216;Didn&#8217;t Take Much For Nvidia To Get People Excited About AI,&#8217; Says Strategist, After Jensen Huang Talks Up AI&#8217;s Potential Beyond Data Centers</a></li>
</ul>
Photo via Shutterstock

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

$BTC

ADBE

NVDA

Nasdaq, S&P 500 Set For Modest Gains As Investors Eye August Inflation Data And ECB Rate Decision

Reported Earlier, Kroger Extends Deadline For Exchange Offers And Consent Solicitations On Albertsons Notes To September 17, 2024

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) to report quarterly earnings at $0.91 per share on revenue of $34.09 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Kroger shares rose 0.3% to $51.65 in after-hours trading.</li>
<li>Oxford Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) reported weaker-than-expected earnings and sales results for the second quarter. The company said it sees FY24 net sales of $1.51 billion to $1.54 billion and adjusted earnings of $7 to $7.30 per share. Oxford Industries shares dipped 10.4% to $74.95 in the after-hours trading session.</li>
<li>Analysts are expecting Signet Jewelers Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) to post quarterly earnings at $1.14 per share on revenue of $1.50 billion. The company will release earnings before the markets open. Signet shares fell 0.1% to $78.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Champions Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSBR#NASDAQ">CSBR</a>) reported better-than-expected financial results for the first quarter on Wednesday. The company reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of a loss of $0.3 per share. Champions Oncology shares jumped 30% to $5.2899 in the after-hours trading session.</li>
<li>Analysts expect Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) to report quarterly earnings at $4.53 per share on revenue of $5.37 billion after the closing bell. Adobe shares rose 0.2% to $581.50 in after-hours trading.</li>
</ul>
Check This Out:<a href="https://www.benzinga.com/top-stories/24/09/40813043/jim-cramer-not-the-time-to-own-oil-when-asked-about-exxon-mobil-says-ibm-is-performing-well"> </a>
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/09/40813043/jim-cramer-not-the-time-to-own-oil-when-asked-about-exxon-mobil-says-ibm-is-performing-well">Jim Cramer: &#8216;Not The Time To Own Oil,&#8217; When Asked About Exxon Mobil; Says IBM Is &#8216;Performing Well&#8217;</a></li>
</ul>

CSBR

Kroger, Adobe And 3 Stocks To Watch Heading Into Thursday

Thanks to resilience in consumer spending and the rapid evolution of technology, the retail sector is rising. Hence, it could be an opportune time to invest in high-quality discounted retail stocks such as Target Corp. (TGT), Kroger (KR), and Albertsons Companies (ACI). Read on… Retail stocks have gained attention as consumer spending remains resilient even in the face of economic uncertainty. Thus, for investors, it could be wise to scoop up the shares of high-quality retail stocks like Target Corporation (<a href="https://stocknews.com/stock/TGT/">TGT</a>), The Kroger Co. (<a href="https://stocknews.com/stock/KR/">KR</a>), and Albertsons Companies, Inc. (<a href="https://stocknews.com/stock/ACI/">ACI</a>), which are trading at a discount compared to their peers.
Retail sales increased in August due to strong consumer demand and easing inflation. According to the Retail Monitor, total retail sales (excluding automobiles and gasoline) rose by 0.5% sequentially and <a href="https://www.cpapracticeadvisor.com/2024/09/13/retail-sales-grew-in-august-as-inflation-decreased/110471/">2.1% year-over-year</a>. Over the first eight months of the year, total retail sales grew by 2.1% year-over-year, with core sales rising by 2.3%.
Grocery and beverage stores also saw a healthy boost, with a 0.9% increase from July and a 2.5% rise from August last year. Meanwhile, fueled by strong promotional pushes for subscription and membership programs, the U.S. online grocery sales ended August <a href="https://www.producebluebook.com/2024/09/16/august-online-grocery-sales-near-10-billion-up-7/">at $9.9 billion</a>, marking a 7% increase from the previous year.
The expansion of online grocery shopping and delivery services has broadened market access and convenience for consumers. The online grocery market, valued at approximately $11.93 billion in 2024, is projected to reach nearly $15.47 billion by 2031, growing at a <a href="https://www.verifiedmarketresearch.com/product/food-grocery-retail-market/">CAGR of 3.3%</a>. This growth is supported by an increasing consumer focus on health and wellness, with a rising demand for organic and health-conscious products.
Moreover, the retail industry is inherently consumer-driven and highly dynamic, adapting to shifting consumer preferences, technological advancements, and market trends. Today, retailers are not just adjusting to digital transformation but are actively embracing it. This shift enhances operational efficiencies and enables retailers to offer a more personalized shopping experience.
Considering these conducive trends, let's examine the <a href="https://stocknews.com/category/grocery-big-box-retailers/">Grocery/Big Box Retailers</a> industry stocks in detail, beginning with the third choice:
Stock #3: Albertsons Companies, Inc. (<a href="https://stocknews.com/stock/ACI/">ACI</a>)
ACI is engaged in the operation of food and drug stores in the United States. It offers groceries, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services.
On September 4, ACI launched its newest brand, Overjoyed, its first major private label. The label offers categories that include bakery and décor, snack mixes, candy, cookies, and celebration supplies. The addition aligns with the company's strategy to expand its brand portfolio, boost margins, and differentiate its offerings in a competitive retail landscape.
On June 25, ACI partnered with Gruhub to offer delivery from nearly 1,800 of its stores, including Albertsons, Safeway, and Jewel-Osco, via the Grubhub Marketplace. As the first national grocery chain to collaborate with Grubhub, ACI expands its reach, enhancing customer convenience and competitiveness in the growing grocery delivery market.
ACI's trailing-12-month ROTC of 8.28% is 19.2% higher than the 6.94% industry average. Similarly, its 45.56% trailing-12-month ROCE is considerably higher than the industry average of 10.67%.
In terms of forward non-GAAP P/E, ACI is trading at 8.06x, 56% lower than the industry average of 18.34x. Likewise, the stock's forward EV/Sales and Price/Cash Flow multiples of 0.31 and 3.87 are 82.3% and 68.8% lower than the industry averages of 1.74x and 12.40x, respectively.
In the fiscal first quarter that ended on June 15, 2024, ACI's net sales and other revenue increased marginally year-over-year to $24.27 billion. The company reported a gross margin of $6.74 billion, indicating 1.1% growth from the prior year quarter. ACI's adjusted <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> stood at $391.60 million or $0.66 per common share.
Analysts expect ACI's revenue and EPS for the current year (ending February 2025) to be $80.53 billion and $2.36, respectively. For the fiscal year 2026, both its revenue and EPS are expected to grow by 1.6% and 0.6% from the prior year to $81.81 billion and $2.38, respectively.
ACI's stock has gained marginally intraday to close the last trading session at $19.06.
ACI's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
ACI has an A grade for Value and a B for Quality. It is ranked #20 out of 37 stocks in the A-rated <a href="https://stocknews.com/category/grocery-big-box-retailers/">Grocery/Big Box Retailers</a> industry. <a href="https://stocknews.com/stock/ACI/">Click here</a> to see the additional ratings for ACI (Growth, Momentum, Stability, and Sentiment).
Stock #2: The Kroger Co. (<a href="https://stocknews.com/stock/KR/">KR</a>)
KR is a food and drug retailer that owns and operates in supermarkets, multi-department stores, marketplace stores, and price-impact warehouses. It offers grocery, health, and beauty care items, general merchandise (including apparel, home goods, and toys), pet centers, fresh seafood, and organic produce.
On July 31, KR announced the expansion of its ‘Our Brands' portfolio with the launch of Field &amp; Vine&#x2122;, a fresh produce line sourced from U.S. farmers across several states. The brand offers seasonal berries like blueberries, blackberries, raspberries, and strawberries, ensuring optimal freshness and reduced transit times. This expansion enhances KR's private label offerings and is poised to attract health-conscious consumers.
KR's trailing-12-month ROCE and ROTA of 24% and 5.43% are 125% and 23.5% higher than their respective industry averages of 10.67% and 4.40%. Likewise, its trailing-12-month asset turnover ratio of 2.96x is considerably above the industry average of 0.85x.
In terms of forward EV/Sales, KR is trading at 0.38x, which is 78% lower than the industry average of 1.74x. The stock's forward Price/Sales ratio of 0.27x is 79.9% below the industry average of 1.35x. Also, its forward Price/Cash Flow multiple of 6.41 compares to the industry average of 12.40x.
For the second quarter of 2024, which ended on August 17, KR's sales increased marginally year-over-year to $33.91 billion. Its operating profit came in at $815 million versus a loss of $479 million in the prior year. Further, its attributable net earnings amounted to $466 million and $0.64 per share, compared to a net loss of $180 million and $0.25 per share in 2023.
Per the updated financial guidance 2024, KR forecasts identical sales without fuel between 0.75% and 1.75%. The company expects adjusted FIFO operating profit to be in the range of $4.60 billion to $4.80 billion. Also, its adjusted net earnings per share is forecasted to lie between $4.30 and $4.50.
Street expects KR's revenue for the fiscal third quarter (ending October 2024) to increase marginally year-over-year to $34.23 billion. Its EPS for the same period is expected to register a 3.2% growth from the prior year, settling at $0.98. In addition, it surpassed the EPS estimates in each of the trailing four quarters, which is promising.
Shares of KR have surged 25% over the past nine months to close the last trading session at $55.91.
KR's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has a B grade for Value and Quality. Within the same A-rated industry, it is ranked #10. <a href="https://stocknews.com/stock/KR/">Click here</a> to see KR's ratings for Growth, Momentum, Stability, and Sentiment.
Stock #1: Target Corporation (<a href="https://stocknews.com/stock/TGT/">TGT</a>)
TGT is a general merchandise retailer selling products through physical stores and digital platforms. The company offers a broad range of everyday essentials and stylish, unique items at competitive prices. Most stores feature diverse merchandise, including apparel, beauty and household essentials, food and beverages, hardlines, and home furnishings.
On June 24, the company partnered with Shopify Inc. (<a href="https://stocknews.com/stock/SHOP/">SHOP</a>) to enhance its Target Plus marketplace with new, curated products from popular Shopify merchants like True Classic and Caden Lane. This collaboration is expected to expand Target Plus's online offerings and bring select Shopify products into Target's physical stores, providing shoppers with a wider range of affordable, high-quality brands.
The stock's trailing-12-month ROTA of 8.01% is 82.1% higher than the industry average of 4.40%. Similarly, its 33.97% trailing-12-month ROCE is 218.4% above the industry average of 10.67%. Also, its trailing-12-month asset turnover ratio of 1.97x compares favorably to the industry average of 0.85x.
In terms of forward non-GAAP P/E, TGT is trading at 15.93x, 13.2% lower than the industry average of 18.34x. Likewise, the stock's forward EV/Sales and Price/Sales multiples of 0.80 and 0.65 are 54.1% and 51.6% lower than their respective industry averages of 1.74 and 1.35.
TGT's total revenue for the fiscal second quarter (ended August 3, 2024) amounted to $25.45 billion, up 2.7% year-over-year. The company's net earnings for the quarter amounted to $1.19 billion or $2.57 per share, representing an increase of 42.7% and 42.4% from the same period last year. In addition, its EBITDA increased to $2.39 billion from $1.89 billion recorded in the same period last year.
For the full year, the company expects a 0% to 2% rise in comparable sales and forecasts its adjusted EPS to range between $9.00 and $9.70 (up from the prior range of $8.60 to $9.60).
The consensus revenue estimate of $25.94 billion for the fiscal third quarter (ending October 2024) represents a 2.1% increase year-over-year. The consensus EPS estimate of $2.29 for the same quarter indicates a 9.1% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
Over the past year, the stock has gained 23.1%, closing the last trading session at $151.36.
TGT's strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It has a B grade for Value, Momentum, Sentiment, and Quality. Out of 37 stocks in the Grocery/Big Box Retailers industry, TGT is ranked #7. <a href="https://stocknews.com/stock/TGT/">Click here</a> to see TGT's rating for Growth and Stability.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
TGT shares were trading at $152.28 per share on Monday afternoon, up $0.92 (+0.61%). Year-to-date, TGT has gained 10.19%, versus a 19.08% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/tgt-kr-aci-shop-3-high-quality-retail-stocks-trading-at-a-discount/>3 High-Quality Retail Stocks Trading at a Discount</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High-Quality Retail Stocks Trading at a Discount

PBJ: Consumer Staples Dashboard For September

Overall bias is bullish, but patchy and flaky are words that may also accompany the direction.  

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Kroger (KR) Forecast

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