Kroger is teaming up with Instacart on a new delivery service that can get grocery items to customers in as little as 30 minutes.
The announcement comes at a time when many people are having groceries delivered for convenience and want their items to arrive quickly.
Kroger Co. said Tuesday that the service, called Kroger Delivery Now, will offer 25,000 items and reach up to 50 million homes. The company, which has more than 2,700 stores, will offer the service for its namesake stores as well as Ralphs, Fred Meyer, King Soopers, Fry’s, Mariano’s, and Smith’s locations.
Chairman and CEO Rodney McMullen said in a statement that the grocery chain had more than $10 billion in online sales last year and anticipates doubling its online sales and profitability rate by the end of 2023, with the delivery service helping to achieve that goal.
Kroger and Instacart first partnered in 2017, with two-hour grocery delivery and now 30-minute delivery nationwide. Two years ago they added alcohol delivery to their services.
Before you consider Kroger, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kroger wasn't on the list.
While Kroger currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
