机构研究报告-Kroger Company-外文版培训课件

COMPANIES

&

PRODUCTSKrogerCompanyCHAPTER

01OverviewShareofretailsalesoftheleadingretailersintheUnitedStatesin2023,byU.S.andinternationalsalesU.S.percentageofworldwideretailsalesoftopretailersintheU.S.2023U.S.percentageofglobalsalesU.S.

International40%

60%84%0%20%80%100%0%120%WalmartACostcoWholesaleTheKrogerCo.16%69%75%31%25%100%94%TheHomeDepot6%CVSHealthCorporationTarget100%100%0%0%WalgreensBootsAllianceLowe'sCompaniesAlbertsonsCompaniesAppleStores/iTunesRoyalAholdDelhaizeUSA89%11%100%100%0%0%87%13%62%38%3Description:In2023,84percentofWalmart'sretailsalescamefromU.S.operations.Incomparison,allofTheKrogerCompany'sretailsalesweregeneratedwithintheUnitedStates.WalmartwastheleadingretailerbasedonU.S.retailsales.

ReadmoreNote(s):UnitedStates;2023Source(s):Kantar;NationalRetailFederationLeadingsupermarketsintheUnitedStatesin2023,basedonretailsales(inbillionU.S.dollars)LeadingsupermarketsintheU.S.2023,basedonretailsalesSalesinbillionU.S.dollars020406080100120140160TheKrogerCo.AlbertsonsCompaniesRoyalAholdDelhaizeUSAPublixSuperMarketsAldi149.6177.8659.4357.147.74Description:KrogerwastheleadingsupermarketintheUnitedStatesin2023,byawidemargin.Ithadnearlydoubletheretailsalesofthenextchain,Albertsons.Foundedin1883inCincinnati,Ohio(whereitisstillheadquartered),byBernardKroger,TheKrogerCo.hasbecomethelargestsupermarketchainintheUnitedStatesandoneofthelargestoverallretailers,behindtheretailinggiant,Walmart.ReadmoreNote(s):UnitedStates;2023Source(s):Kantar;NationalRetailFederationNumberofstoresoftheleadingsupermarketsintheUnitedStatesin2023NumberofstoresoftheleadingsupermarketsintheU.S.2023Numberofstores05001,0001,5002,0002,5003,0002,9383,500AldiTheKrogerCo.2,855AlbertsonsCompaniesRoyalAholdDelhaizeUSAPublixSuperMarkets2,2682,0531,6655Description:In2023,Aldioperated2,938storesintheUnitedStatesandthusbecametheleadingsupermarketintermsofnumberoflocationsinthecountry,surpassingKroger.AldiwasfoundedinEssen,Germany,in1946bybrothersKarlandTheoAlbrechtanddevelopedintoasuccessfuldiscountsupermarketchain.ThereasonforitssuccessintheU.S.couldbelinkedtoitscompetitiveprices:in2022,nearly78percentofAldi'ssalescamefromprivatelabelproducts.

ReadmoreNote(s):UnitedStates;2023Source(s):Kantar;NationalRetailFederation;StoresAnnualsalesofretailfoodandbeveragestoresintheUnitedStatesfrom1992to2023(inbillionU.S.dollars)AnnualsalesofretailfoodandbeveragestoresintheU.S.1992-20231,2001,000800600400200092

93

94

95

96

97

98

99

00

01

02

03

04

05

06

07

08

09

10

11

12

13

14

15

16

17

18

19

20

21

22

236Description:In2023,annualsalesofretailfoodandbeveragestoresintheUnitedStatesamountedtoapproximately985billionU.S.dollars.Thismarkedaconstantincreaseduringthereportedperiodandmorethandoubletheamountregisteredtwodecadesearlier.ReadmoreNote(s):UnitedStates;1992to2023Source(s):USCensusBureauNumberofsupermarketsandothergroceryretailersintheUnitedStatesfrom2014to2023NumberofsupermarketsandgroceryretailersintheU.S.2014-202370,00060,00050,00040,00030,00020,00010,000020142015201620172018201920202021202220237Description:ThenumberofsupermarketsandothergroceryretailersintheU.S.showedaslightdecreaseduringthereportedperiod.In2014theytotaledjustover61,000,whileby2023theyamountedtoaround58,000.

ReadmoreNote(s):UnitedStates;2014to2023Source(s):BureauofLaborStatisticsSalesshareoffoodandbeverageretailintheUnitedStatesin2022,byformatFood&beverageretailsalesshareintheUnitedStatesin2022,byformatConveniencestores4.6%Specialtyfoodstores2.97%Beer,wine,andliquorstores7.36%Supermarketsandothergrocerystores85.07%8Description:In2022,U.S.foodandbeverageretailersgeneratedabout947billionU.S.dollarsinsales.Supermarketsandothergrocerystorestookthelion'sshareoffoodandbeverageretailstoresaleswithabout85.1percent,whilebeer,wine,andliquorstorestookthesecondhighestshareofsaleswith7.4percent.ReadmoreNote(s):UnitedStates;2022Source(s):Statista;USCensusBureauLeadingonlinestoresinthefood&beveragessegmentintheUnitedStatesin2023,bye-commercenetsales(inmillionU.S.dollars)Topfood&beveragesonlinestoresintheU.S.in2023E-commercerevenueinmillionU.S.dollar01,0002,0003,0004,0005,0006,0005,8127,0003,2453,1652,6472,6001,7431,7281,4779268699Description:WisleadingtheFood&Beveragese-commercemarketintheU.S.,withe-commercenetsalesofUS$5,812millionin2023generatedintheU.S.,followedbywithUS$3,245million.ThirdplaceistakenbywitharevenueofUS$3,165million.KisthefourthbiggestFood&BeveragesonlinestoreintheU.S.withnetsalesofUS$2,647millionin2023.ReadmoreNote(s):2023Source(s):ecommerceDB.com;StatistaCHAPTER

02SalesKroger'stotalsalesintheUnitedStatesfrom2007to2023(inbillionU.S.dollars)Kroger'ssalesintheU.S.2007-2023160140120100150.04148.26137.89132.5123.28121.85

122.29115.34109.83108.4798.3896.6290.3782.0576.0676.6180604020070.262007200820092010201120122013201420152016201720182019202020212022202311Description:In2023,Kroger'ssalesamountedtoaround150billionU.S.dollars,upfromthepreviousyear,whentheyamountedtoapproximately148billion.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.ReadmoreNote(s):UnitedStates;2007to2023Source(s):KrogerRevenueofKrogerin2023,bycategory(inbillionU.S.dollars)Krogerrevenue2014-2023,bycategoryNonPerishablePerishableFuelPharmacyConveniencestores71.43Other908070605040302010076.974.1269.6561.4660.8760.6560.2257.1954.3935.4335.6933.9733.4529.1429.0929.4527.6725.7324.1818.8618.6313.3816.6214.2614.89.7814.910.6214.6812.413.9810.4314.0511.0213.1810.7211.399.499.036.36.747.196.76.574.13.044.541.144.962.012.330.94201420152016201720182019202020212022202312Description:In2023,TheKrogerCompany,a.k.a.Kroger,madecloseto77billionU.S.dollarsinrevenuethroughnon-perishableproducts.Fiscalyear2023endedonFebruary3,2024.FoundedinCincinnati,Ohio,in1883,KrogerisalargesupermarketchainoperatingintheUnitedStates.ReadmoreNote(s):UnitedStates;2014to2023Source(s):Kroger;U.S.SecuritiesandExchangeCommissionKroger'ssupermarketsalesfrom2014to2023(inbillionU.S.dollars)Kroger'ssupermarketsales2014-2023140132.28128.66122.13122.29120100806040200107.49105.12104.2199.2491.3186.29201420152016201720182019202020212022202313/statistics/717552/kroger-supermarket-salesIn2023,Kroger'stotalsupermarketsalesamountedtoapproximately132.3billionU.S.dollars,upfrom128.7billionin2022.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.

ReadmoreNote(s):UnitedStates;2014to2023Source(s):KrogerKroger'sfuelsalesfrom2014to2023(inbillionU.S.dollars)Kroger'sfuelsales2014-20232018.8518.631816141210816.6214.814.914.6814.0512.9111.299.496420201420152016201720182019202020212022202314Description:In2023,Kroger'stotalfuelsalesamountedtoapproximately16.6billionU.S.dollars,downfromaround18.6billioninthepreviousyear.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.ReadmoreNote(s):UnitedStates;2014to2023Source(s):KrogerCHAPTER

03KeyfiguresKroger'snetearningsfrom2012to2023(inbillionU.S.dollars)Kroger'snetearnings2012-20233.53.083.02.592.52.252.172.051.961.892.01.51.00.50.01.751.671.531.511.5120122013201420152016201720182019202020212022202316/statistics/717207/kroger-net-earningsIn2023,Kroger'snetearningsamountedtoapproximately2.17billionU.S.dollars,downfromabout2.25billionin2022.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.

ReadmoreNote(s):UnitedStates;2012to2023Source(s):KrogerOperatingprofitofKrogerfrom2013to2023(inbillionU.S.dollars)Krogeroperatingprofit2013-20234.54.134.03.53.02.52.01.51.00.50.03.63.483.43.13.12.782.72.612.612.252013201420152016201720182019202020212022202317Description:In2023,Kroger'soperatingprofitamountedtoabout3.1billionU.S.dollars,downfromapproximately4.1billionin2022.Fiscalyear2023endedonFebruary3,2024.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.ReadmoreNote(s):UnitedStates;2013to2023Source(s):Kroger;U.S.SecuritiesandExchangeCommissionKroger'sgrossmarginintheUnitedStatesfrom2016to2023Kroger'sgrossprofitmarginintheU.S.2016-202325%23.32%22.4%22.24%22.01%21.95%22.07%22.01%21.43%20%15%10%5%0%2016201720182019202020212022202318Description:In2023,Kroger'sgrossprofitmarginintheUnitedStateswasabout22.2percent.Thisshowedaslightincreasecomparedto2022,whenthegrossprofitmarginreachedabout21.4percent.

ReadmoreNote(s):UnitedStates;2016to2023Source(s):KrogerTotalassetsofKrogerfrom2019to2023(inbillionU.S.dollars)Krogertotalassets2019-20236050.549.6249.0948.665040302010045.262019202020212022202319Description:ThetotalassetsofKrogerwithheadquartersintheUnitedStatesamountedto50.5billionU.S.dollarsin2023.ThereportedfiscalyearendsonFebruary1.ReadmoreNote(s):UnitedStates;2019to2023Source(s):U.S.SecuritiesandExchangeCommissionKroger'sadvertisingspendingintheUnitedStatesfrom2013to2023(inmillionU.S.dollars)Kroger:adspendintheU.S.2013-20231,2001,0008001,0891,03098488885475271770767964858760040020002013201420152016201720182019202020212022202320Description:SupermarketchainKrogerinvested1,089millionU.S.dollarsinadvertisingintheUnitedStatesinitsfiscalyear2023.Duringthereportedperiod,thecompany'sadvertisingspendinghasgrownsteadilyfromatotalof587millionin2013.

ReadmoreNote(s):UnitedStates;2013to2023Source(s):KrogerCHAPTER

04StoresKroger'snumberofretailfoodstoresfrom2009to2023Kroger'snumberofstores2009-20233,0002,7962,7822,7782,7642,7572,7422,7262,7192,7222,6402,6252,4692,4602,4352,4242,5002,0001,5001,000500020092010201120122013201420152016201720182019202020212022202322Description:AsofFebruary3,2024,Krogeroperated2,722retailfoodstores,aslightincreasefromthe2,719storesayearearlier.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.

ReadmoreNote(s):UnitedStates;2009to2023;FiscalyearendsontheSaturdayclosesttoJanuary31Source(s):KrogerNumberofstoresoperatedbyKrogeroritssubsidiariesasofFebruary2024,bycategoryNumberofstoresoperatedbyKroger2024,bycategory3,0002,7222,5002,0001,5001,0005002,3502,2571,6650TotalnumberofstoresStoreswithpharmaciesStoreswithfuelcentersStoreswithin-storepickupservice23Description:TheAmericangroceryretailerKrogeroperated2,722storesasofFebruary2024,withmostofthoselocationsalsocontainingpharmacies.ꢀKrogerOperatingFiguresKrogerisoneofthelargestgroceryretailersintheUnitedStates.TheKrogerCompanyisamongtheꢀleadingsupermarketsfornumberoflocationsintheUnitedStates,behinddiscountsupermarketchainAldi.KrogeralsobearsthedistinctionofhavingtheꢀhighestnumberofemployeesofanyU.S.supermarketexcluding[...]ReadmoreNote(s):UnitedStates;asofFebruary2024Source(s):KrogerNumberofgrocerystoresoperatedbyKrogerin2025,bystateNumberofgrocerystoresoperatedbyKroger2025,bystateNumberofstores050100150200250TexasOhio210196Georgia166MichiganTennesseeKentuckyIndiana120114106103Virginia68WestVirginiaIllinoisMississippiArkansasSouthCarolina383129261324Description:AsofJanuary14,2025,Krogeroperated210grocerystoreslocatedinTexasand196grocerystoreslocatedinOhio.ꢀThecompanyoperatedatotalof2,855storesintotalintheUnitedStatesduring2023.

ReadmoreNote(s):UnitedStates;2025Source(s):KrogerKroger'stotalfoodstoresalesareafrom2009to2023(inmillionsquarefeet)Kroger'stotalfoodstoresalesarea2009-2023200180160179179180179179179180177.8173.1160.7161.3148149149149.114012010080604020020092010201120122013201420152016201720182019202020212022202325/statistics/241213/total-food-store-sales-area-of-krogerIn2023,Kroger'stotalfoodstoresalesareaamountedto180millionsquarefeet,aslightincreasecomparedtothepreviousyear.KrogerisasupermarketchainoperatingintheUnitedStates.ItwasfoundedbyBernardKrogerinCincinnati,Ohioin1883.ReadmoreNote(s):UnitedStates;2009to2023Source(s):KrogerEmployeesofKrogerfrom2014to2023Krogeremployees2014-2023500,000465,000453,000449,000443,000435,000450,000400,000350,000300,000250,000200,000150,000100,00050,0000431,000430,000420,000414,000400,000201420152016201720182019202020212022202326Description:ThenumberofemployeesofKrogershowedsomefluctuationsbetween2014and2023,reachingapproximately414,000asofFebruary2024.ꢀTheKrogerCompanyKrogerCompanyisoneofthelargestgroceryretailersintheUnitedStates,whichinturnoperatesseveralothergrocerycompaniesincludingFredMeyer,Ralphs,andFood4Less.In2022,Kroger’snetearningsexceeded2.2billionU.S.dollars,anincreasefromjustoveroneandahalfbillionU.S.dollarsinthepreviousyear.Mostof[...]

ReadmoreNote(s):UnitedStates;2014to2023;full-andpart-timeemployeesasofFebruary3,2024/approximatefiguresSource(s):Kroger;U.S.SecuritiesandExchangeCommissionCHAPTER

05CompetitorsWalmart'snetsalesworldwidefromfiscalyear2006to2024(inbillionU.S.dollars)Walmart:netsalesworldwideFY2006-FY2024700600500642.64605.88567.76555.23519.93510.33495.76482.23

478.61

481.32465.6

473.08443.42418.5401.09

404.74373.824003002001000344.76308.952006200720082009201020112012201320142015201620172018201920202021202220232024Fiscalyear28Description:InthefiscalyearendedJanuary31,2024,Walmart'sglobalnetsalesamountedto642.6billionU.S.dollars,anincreaseofapproximatelysixpercentincomparisontoayearearlier.

ReadmoreNote(s):Worldwide;Fiscalyear2006to2024Source(s):WalmartRevenueofAmazonfrom2004to2023(inbillionU.S.dollars)Amazonrevenue2004-2023700600500574.78513.98469.82386.064003002001000280.52232.89177.87135.99107.0188.9974.4561.0948.0834.224.5119.1714.846.928.4910.712004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

202329Description:From2004to2023,thenetrevenueofAmazone-commerceandservicesaleshasincreasedtremendously.InthefiscalyearendingDecember31,themultinationale-commercecompany'snetrevenuewasalmost576billionU.S.dollars,upfrom514billionU.S.dollarsin2022.A,aU.S.electroniccommercecompanyoriginallyfoundedin1994,istheworld’slargestonlineretailerofbooks,clothing,electronics,music,andmanymoregoods.Asof2023,thecompanygeneratesthe[...]

ReadmoreNote(s):Worldwide,UnitedStates;2004to2023Source(s):Amazon;U.S.SecuritiesandExchangeCommissionNetsalesofCostcoworldwidefrom2011to2024(inmillionU.S.dollars)Costconetsalesworldwide2011-2024300,000249,625250,000200,000150,000100,00050,0000237,710222,730192,052163,220149,351138,434126,172116,073113,666110,212102,87097,0622012*87,048201120132014201520162017*201820192020202120222023*202430Description:Overthelastseveralyears,Costcohasseenayearlyincreaseinitsglobalnetsales,risingfrom110.2billionU.S.dollarsin2014to249.6billionU.S.dollarsby2024.Costcohasmadeanameforitselfworldwideasamembers-onlywholesaleretailerwithwarehousestylestores.ReadmoreNote(s):Worldwide,UnitedStates;2011to2024;*53-weekfiscalyear.Figurespriorto2021weretakenfrompreviousannualreports.

ReadmoreSource(s):Costco;U.S.SecuritiesandExchangeCommissionNetsalesofTargetintheUnitedStatesfrom2015to2023(inmillionU.S.dollars)Target:netsalesintheUnitedStates2015-2023120,000100,000107,588105,803104,61192,40077,13080,00060,00040,00020,000074,43373,71771,78669,41420152016201720182019Fiscalyear202020212022202331Description:TargetCorporationoperatesachainofgeneralmerchandisestores,whichofferawidevarietyofgeneralmerchandiseandfoodtotheircustomers.ThecompanyhasoperatedprimarilyintheUnitedStatessinceitsinception.TargetdidhaveanumberofstoresinoperationintheCanadianmarket,butthesewereallclosedin2015.TargetCorporationhadnetsalesamountingtoapproximately105.8billionU.S.dollarsin2023,ꢀmakingitoneoftheleadingAmericanretailers.The[...]

ReadmoreNote(s):UnitedStates;2015to2023Source(s):TargetNetsalesandotherrevenuesofAlbertsonsCompaniesintheUnitedStatesfrom2015to2023(inbillionU.S.dollars)NetsalesofAlbertsonsCompaniesU.S.2015-20239079.2477.658071.8969.6970605040302010062.4660.5359.6859.9258.7320152016201720182019202020212022202332Description:AlbertsonsCompaniesgeneratedover79billionU.S.dollarsinsalesandotherrevenuesinthefiscalyearendedFebruary24,2024.Asthesecond-largestsupermarketchaininNorthAmerica,Albertsons'salesfigureswitnessedsteadygrowthovertheyears,increasingfromapproximately58.73billionU.S.dollarsin2015.ReadmoreNote(s):UnitedStates;2015to2023Source(s):AlbertsonsAholdDelhaizeGroup'snetsalesworldwidefrom2013to2023(inmillioneuros)Foodretail:AholdDelhaizeGroup'sglobalnetsales2013-2023100,00090,00080,00070,00060,00088,64986,98475,60174,73666,26062,89062,79149,69550,00040,00030,00020,00010,000038,20332,615201332,774201420152016201720182019202020212022202333Description:In2015,theglobalnetsalesofAholdDelhaizeamountedto38billioneuros,whichincreasedto88billioneurosby2023,afterstallingin2018at62.8billion.Netsalesincludedeductionsfromgrosssales.AndinthecaseofAholdDelhaizeoverꢀ60percentofnetsalesweremadeintheUnitedStates.CompanyprofileAholdDelhaize(KoninklijkeAholdDelhaizeN.V.)isamultinationalfoodretailerfromtheNetherlands,whichoperatessupermarketsandconveniencestoresonthreecontinents.[...]

ReadmoreNote(s):Worldwide;2013to2023Source(s):AholdDelhaizeNetsalesofPublixSuperMarketsintheUnitedStatesfrom2015to2023(inbillionU.S.dollars)NetsalesofPublixSuperMarketsU.S.2015-2023605057.154.54844.938.124036.0934.563432.36302010020152016201720182019202020212022202334/statistics/1167242/publix-net-sales-usPublixSuperMarketsgeneratedapproximately57billionU.S.dollarsinsalesinthefiscalyearendedDecember30,2023.SalesfiguresforPublixwitnessedsteadygrowthovertheyears,increasingfromapproximately32.36billionU.S.dollarsin2015.ReadmoreNote(s):UnitedStates;2015to2023Source(s):Publix;U.S.SecuritiesandExchangeCommissionCHAPTER

06ConsumerbehaviorShareofpeoplewhoregularlyshoppedatKrogergrocerystoresintheUnitedStates,byageasofSeptember2024PeoplewhoregularlyshoppedatKrogerintheU.S.,byage202425%23%22%20%20%15%10%5%0%18-29years30-49years50-64years36Description:WhenitcomestoshareofpeoplewhoregularlyshoppedatKrogergrocerystoresintheUnitedStates,20percentof18-29yearoldsdosointheU.S.ThisisaccordingtoexclusiveinsightsfromtheConsumerInsightsGlobalsurveywhichshowsthat23percentof30-49yearoldconsumersalsofallintothiscategory.ReadmoreNote(s):UnitedStates;October2023toSeptember2024;10109respondents;18-64yearsSource(s):StatistaConsumerInsightsLeadinggrocerystoresrankedbybrandawarenessintheUnitedStatesasofJune2024Mostwell-knowngrocerystoresintheUnitedStates2024Shareofrespondents40%

50%0%10%20%30%60%70%80%90%100%WalmartTarget97%94%CostcoSam'sClubAldi87%87%82%82%KrogerWholeFoodsMarketsTraderJoe'sPublix79%74%60%58%56%SafewayAlbertsonsBJ's53%FoodLio