Kroger to invest $5 billion by 2029 as new CEO sharpens grocery focus
KR•Kroger plans to invest $5 billion by 2029 to lower prices and improve the shopping experience, and is targeting about 3% core comparable sales growth by that year.
1. Investment plan
Kroger said the investment will focus on customer value, simplifying promotions, improving merchandising, refreshing store formats and boosting loyalty programs. CFO David Kennerley said it is the plan’s largest single driver and is entirely self-funded.
2. Growth priorities
The company also aims to grow e-commerce and retail media revenue. CEO Greg Foran, who took the role in February, said this month that Kroger plans to cut about a third of its corporate roles over three years, using AI to reduce duplicative work.
