Kroger: Reports Q4 and fiscal year 2020 results

Cincinnati / OH. (tkc) The Kroger Company reported its fourth quarter and fiscal year 2020 results.

Comments from Chairman and CEO Rodney McMullen

«I am incredibly humbled by the strength of our associates and what we continue to accomplish together. Our customers are at the center of everything we do and we will continue to serve them as we have since the beginning of the pandemic, through our leadership in food and as a health partner, providing Covid-19 testing and vaccines.

«Kroger continued to grow market share during the quarter. Our ability to meet our customers’ evolving needs is a testament to our deep competitive moats, disciplined investments in our increasingly robust digital capabilities, as well as our associates’ relentless focus on our customers. We finished fiscal year 2020 with strong sales and earnings, as heightened demand for fresh, convenient food and meal solutions across modalities, including in store, pick up and home delivery, continued throughout the fourth quarter.

«Supported by our strong performance and cash position, we were pleased to commit more than USD 2.5 billion to safeguard the environment our associates and customers work and shop in and to reward associates, including nearly USD 1 billion to better secure pensions.»

For further information please view the company’s statement (PDF | 133 KB):