$KR · KROGER CO

Kroger filed an 8-K under Item 7.01 (Regulation FD) disclosing an investor conference presentation on October 20, 2026. The company introduced new long-term financial targets: approximately 3% comparable sales growth (ex-fuel, ex-pharmacy) in FY2029, 3%-6% adjusted EBITDA CAGR, and 7%-11% adjusted net EPS CAGR for FY2027-FY2029. The new EPS target replaces the prior 8%-11% total shareholder return target and excludes the pending Giant Eagle acquisition. Full-year 2026 guidance was reaffirmed.

Extended-hours trading shows +1.44% to $63.96 vs. the $63.05 regular close, indicating a positive initial reception to the long-term framework. Markets closed — no regular-session reaction yet.

Kroger's shift from a dividend-inclusive TSR metric to pure EPS growth signals management confidence in accelerating core earnings power — a meaningful strategic signal for a $37B grocer.

Kroger's shift from a TSR-based target to pure EPS growth aligns with grocery peers emphasizing core operating leverage over capital-return optics. The ~3% comp target signals confidence in sustaining above-industry same-store sales in a mature, price-competitive sector.

Forward-looking targets exclude the pending Giant Eagle acquisition and depend on self-funded cost savings, labor negotiations, and competitive pricing pressures. No reconciliation to GAAP provided for non-GAAP targets.