The Kroger Co.’s board of directors has announced an incremental $1 billion share repurchase program, supplementing the current authorization, which had approximately $76 million remaining as of March 13, 2018.
“Kroger’s share repurchase authorization reflects our board of directors’ confidence in Restock Kroger and our ability to generate long-term value for shareholders,” said Rodney McMullen, Kroger’s Chairman and CEO. “Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006. Over the last four quarters, Kroger has returned more than $2.1 billion to shareholders through share buybacks and dividends combined.”
Mitchell Grocery Corp. announced today that it has an agreement to purchase three Winn-Dixie store locations in Alabama from Winn-Dixie’s parent company, Southeastern Grocers, LLC. All three stores are located in northeast Alabama in the cities of Jacksonville, Oxford, and Pell City. Mitchell Grocery is purchasing the stores on behalf of two of its current customers, Johnson’s Giant Foods and The D’Alessandro Organization, LLC. Johnson’s Giant Foods will own and operate the Jacksonville and Oxford locations, and The D’Alessandro Organization, LLC will own and operate the Pell City location under the Fresh Value banner.
Mitchell Grocery says it felt that these stores were a great fit for Johnson’s Giant Foods and The D’Alessandro Organization, LLC, and the decision to purchase these locations was made to expand the presence of grocery stores with quality items and low prices in these communities. “We are thrilled about this agreement and the opportunities it presents for two of our operators to expand and grow their businesses. We look forward to welcoming and serving new customers and employees in the Jacksonville, Oxford, and Pell City areas,” said David Mitchell, President of Mitchell Grocery.
Mitchell Grocery Corp.’s distribution center is located in Albertville, Alabama, and currently supplies 175 independent supermarkets in Alabama, Georgia, Mississippi, Tennessee, Kentucky, and Florida. Johnson’s Giant Foods currently operates three stores in Gadsden and Attalla, Alabama. Gerry D’Alessandro of The D’Alessandro Organization, LLC currently operates four stores in Bessemer, Trussville, and Oxford, Alabama.
In 2018, the Hatch Chile Company is introducing USDA-certified organic formulations of its popular HATCH Red Mild and HATCH Red Medium enchilada sauces to consumers across the United States. The Hatch Chile Company’s Organic Red Enchilada Sauce introduction will advance Hatch Chile Company’s quality leadership in the category and will help drive category sales. HATCH branded enchilada sauces have been a category leader with overall sales and sales growth.
Sales of certified organic food items continue to expand, and in 2016, organic food accounted for over 5.3 percent of total food products sold in the United States. For the first time, sales of organic food items exceeded $40 billion in 2016 and were up 8.4 percent versus prior year while the overall U.S. food sales only grew 0.6 percent, according to an Organic Trade Association (OTA) industry survey (May 2017).
The Hatch Chile Company is a category leader in premium quality Southwestern food with a broad product line that includes premium quality green chile and jalapeno peppers, enchilada sauces, salsas and taco sauce. The Hatch Chile Company has been an industry pioneer in introducing certified gluten free, Non-GMO Project verified and kosher OU products to the market. HATCH and HATCH Select branded products are available in supermarkets and natural and specialty grocery retailers across the United States.