The largest grocery retailer Kroger’s CEO Rodney McMullen said regarding the digital’s sales growth and the current data for the Cincinnati-based chain of stores. Which is already serves 60 million American families each year. Its approximately 2,800 stores serve approximately 45% of the US population.
While the CEO shared his views and future growth plans that the latest push to grow home delivery through an alliance with UK company Ocado. We will be using a planned network of highly automated warehouses that will provide home delivery to 75% of American households. Along with the company’s idea at its annual shareholder meeting on Thursday.
The company also announced that it will raise its dividend. Furthermore, he added that I appreciate our annual meeting in part because it provides an opportunity to step back from day-to-day management and leadership and talk about our themes, our dreams, and what our last year suggests about our future,” CEO Rodney McMullen told shareholders.
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In the meeting, he shared that the Kroger sales surpassed $10 billion for the first time and the company’s goal to reach $20 billion in digital sales by late 2023. He stressed that digital shoppers are not only online and that it is working The digital service grows Kroger’s most valuable customers who shop in-store and online – and spend twice as much as customers who do one or the other. Another highlight point of the meeting was that the Kroger shareholders rejected a proposal urging the board of directors to issue a report estimating the amount of plastic used in packaging and describing strategies to reduce the use of plastic.
In this regard, Kroger’s CEO has confirmed Thursday that the company invested $800 million last year in employee pay raises and will invest another $350 million this year in worker pay. This year, associates will average $16 per hour, before benefits. But it will be 23$ in this year.