A letter from our CEO
Ron Sargent
To Our Shareholders
I’ve been part of Kroger’s story for a while now. And I know the company well enough to know
Kroger is at its best when we deliver on the basics – taking care of our customers, running great stores and focusing our resources where they provide the most value.
2025 was a strong year – we nearly doubled our identical sales without fuel, grew earnings per share by 9% and delivered a great store experience. The eCommerce business we’ve been building crossed $16 billion in sales. These results reflect the hard work of more than 403,000 associates and the real ways they serve communities across the country. Strong results are the starting point of meaningful growth, and we still have more work to do.
An important part of the work we did last year was to find the right person for the CEO seat. The Board of Directors knew selecting the first external CEO would be a defining decision in
Kroger’s history, and we were deliberate in the choice. I am confident we got it right.
Before he started, we knew Greg Foran was the real deal – and I’ve seen it continue to be true
in the four months since his first day. Immediately, he began traveling to stores, visiting
distribution centers and walking manufacturing facilities. He talked with associates and asked
the difficult questions necessary to form clear views about what we need to accomplish together. Greg is direct about our opportunities and honest about the path forward. This is what
Kroger needs today and while writing our next chapter.
I want to close with a personal reflection.
Kroger has been around for 143 years and navigated a lot in that time – all to come out stronger
on the other side. Companies achieve this kind of staying power when everyone from the stores to the manufacturing floor to the support offices show up and work toward a common goal.
In my year as CEO and many before as a board member, I got to know our associates. I have a
great respect for them and am confident we are moving in the right direction and moving fast.
Thank you for your continued trust in our Board of Directors – and I look forward to seeing you
in our stores.
I’ve been part of Kroger’s story for a while now. And I know the company well enough to know
Kroger is at its best when we deliver on the basics – taking care of our customers, running great stores and focusing our resources where they provide the most value.
2025 was a strong year – we nearly doubled our identical sales without fuel, grew earnings per share by 9% and delivered a great store experience. The eCommerce business we’ve been building crossed $16 billion in sales. These results reflect the hard work of more than 403,000 associates and the real ways they serve communities across the country. Strong results are the starting point of meaningful growth, and we still have more work to do.
An important part of the work we did last year was to find the right person for the CEO seat. The Board of Directors knew selecting the first external CEO would be a defining decision in
Kroger’s history, and we were deliberate in the choice. I am confident we got it right.
Before he started, we knew Greg Foran was the real deal – and I’ve seen it continue to be true
in the four months since his first day. Immediately, he began traveling to stores, visiting
distribution centers and walking manufacturing facilities. He talked with associates and asked
the difficult questions necessary to form clear views about what we need to accomplish together. Greg is direct about our opportunities and honest about the path forward. This is what
Kroger needs today and while writing our next chapter.
I want to close with a personal reflection.
Kroger has been around for 143 years and navigated a lot in that time – all to come out stronger
on the other side. Companies achieve this kind of staying power when everyone from the stores to the manufacturing floor to the support offices show up and work toward a common goal.
In my year as CEO and many before as a board member, I got to know our associates. I have a
great respect for them and am confident we are moving in the right direction and moving fast.
Thank you for your continued trust in our Board of Directors – and I look forward to seeing you
in our stores.
Ron Sargent
Chairman, The Kroger Co.