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Stock Market & Financial Investment News

News Breaks
January 29, 2014
07:34 EDTHTSI, KRKroger completes merger with Harris Teeter
Kroger (KR) and Harris Teeter (HTSI) announced that the merger transaction between the two companies was completed on January 28. Harris Teeter shareholders will receive $49.38 per share of Harris Teeter common stock. Harris Teeter will continue to operate its stores under the Harris Teeter brand name as a subsidiary of The Kroger Co. Harris Teeter had revenues of $4.7B for 2013. Kroger intends to continue its quarterly dividend and share repurchase program while managing free cash flow to reduce the leverage taken on in this merger. Kroger continues to expect net accretion to earnings per diluted share in the range of 6c9c in the first full year after the merger. Kroger expects to achieve cost savings of approximately $40M-$50M, largely from the benefits of Kroger's enhanced scale, within the next four years. As of January 28, shares of Harris Teeter common stock ceased to trade on the New York Stock Exchange. Together, the company will operate 2,641 supermarkets and employ more than 368K associates across 34 states and D.C.
News For KR;HTSI From The Last 14 Days
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May 20, 2015
10:44 EDTKRKroger CEO says economics of delivery to home 'difficult'
Kroger CEO W. Rodney McMullen says he believes it will always be an "and," not an "or," choice for customers regarding grocery store visits and online purchases. McMullen spoke on CNBC.
10:42 EDTKRKroger CEO says consumer spending still 'fragile'
Kroger (KR) CEO W. Rodney McMullen says the company will continue to spend on stores. McMullen said it will be "fascinating" to see how Whole Foods (WFM) customers react to its plans for a smaller, lower-cost format. Kroger's CEO says food inflation has been tracking a 1%-2% and the company expects it to continue at that level. McMullen says Kroger looks at "just about anything that is available" in terms of M&A, but doesn't bid on many things. McMullen is speaking on CNBC.
07:07 EDTKRBMO Capital to hold a conference
10th Annual Farm to Market Conference is being held in New York on May 20-21 with webcasted company presentations to begin on May 20 at 8 am; not all company presentations may be webcasted. Webcast Link
May 12, 2015
08:05 EDTKRGoldman Sachs to hold a forum
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May 10, 2015
14:12 EDTKRWhole Foods stock unlikely to outperform in near-term, Barron's says
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