Kroger's scale and brand intangible assets continue to boost the firm's standing amid deflation.
We do not plan to make a large change to our $32.50 per share valuation for narrow-moat Kroger after the firm announced mixed third-quarter results. Year to date, Kroger’s 4.9% revenue growth is outpacing our 4.3% target, but profitability trails our estimates, with Kroger’s 2.9% operating margin lagging our 3.2% full-year mark. While the industry remains stressed by short-term commodity-driven deflationary pressures across much of the food spectrum (Kroger saw 1.5% third-quarter deflation, exce...Kroger operates as a retailer. The company also manufacture and process some of the food for sale in its supermarkets. Supermarkets are operated under one of the following formats: combination food and drug stores (combo stores); multi-department stores; marketplace stores; or price impact warehouses. The combo stores provide food and organic sections, pharmacies, general merchandise, pet centers and perishables such as seafood and organic produce. Marketplace provide grocery, pharmacy and health and beauty care departments as well as perishable offering and general merchandise area that includes apparel, home goods and toys.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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