Kroger Company (KR) and Kitchen United Mix have joined forces to open a kitchen center in Houston, Texas. Customers will soon be able to order freshly prepared and on-demand meals. KR shares rose 0.80% to close at $45.59 on February 21.
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Kroger is an Ohio-based retailer that operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. Kroger’s upcoming earnings report for Q4 2021 is scheduled for March 03, 2022.
Kitchen Center
The kitchen center allows customers to place orders digitally using Kitchen United’s proprietary MIX platform via the web, mobile, or an in-person ordering kiosk. Orders can be picked up onsite or delivered to preferred locations at a fee determined by third-party providers.
The kitchen will offer meals from more than 10 local and national eateries. It also becomes the second collaborative space between the two companies after they opened a kitchen center in Westwood, California, last month.
The strategic partnership with Kitchen United should allow Kroger to offer simple, on-demand meal options within its stores and is in line with Kroger’s commitment to “anything, anywhere, anytime.” It also advances Kroger’s “Fresh for Everyone” strategy.
Stock Rating
Earlier this month, Wolfe Research analyst Spencer Hanus reiterated a Buy rating on Kroger stock and raised the price target to $52 from $47, implying 14.06% upside potential to current levels.
Consensus among analysts is a Hold based on 2 Buys, 10 Holds, and 5 Sells. The average Kroger price target of $44.56 implies 2.26% downside potential to current levels.
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