One of the leading grocery retailers in the U.S.,
The Kroger Co.
) plans to invest $150 million in Northern Texas over a period of
2 years. The amount infused will be allocated towards opening of
stores and fuel centers, and refurbishment and expansion of
existing locations. The company plans to construct 5 new outlets
and expand 3 existing locations.
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This strategic initiative is expected to generate over 1,700 full
time and part time employment opportunities.
Of the 5 new stores, only 1 will be opened in 2014, and the
remaining 4 are scheduled for 2015. Among the 3 Kroger Signature
stores falling under the expansion plan, 2 are scheduled to be
ready by 2014 whereas 1 is expected to complete by the final
quarter of fiscal 2013 itself.
Kroger for the last 55 years has been in Dallas market operating
85 stores and 43 fuel centers.
This Ohio based supermarket and multi-department store operator,
catering to 31 states is expected to announce its third-quarter
fiscal 2013 earnings on Dec 5, 2013. Our proven model
conclusively shows that Kroger is likely to beat the Zacks
Consensus Estimate this quarter. This is because the company
carries a Zacks Rank #3 (Hold) and an Earnings ESP of 1.89% and
for a stock to outperform, it needs both a positive
and a Zacks Rank of #1, 2 or 3.
Other stocks in the retail supermarket industry that warrant a
Harris Teeter Supermarkets, Inc.
Marks & Spencer Group plc
), all holding a Zacks Rank #2 (Buy).