<SEC-DOCUMENT>0001104659-25-020725.txt : 20250407
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<ACCEPTANCE-DATETIME>20250305122415
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ACCESSION NUMBER:		0001104659-25-020725
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250305

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KROGER CO
		CENTRAL INDEX KEY:			0000056873
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-GROCERY STORES [5411]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				310345740
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0201

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1014 VINE ST
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45201
		BUSINESS PHONE:		5137624000

	MAIL ADDRESS:	
		STREET 1:		1014 VINE ST
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45201
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March&nbsp;5, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Trade&nbsp;&amp; Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><B>RE:</B></TD><TD STYLE="text-align: justify"><B>The Kroger Co.</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><B>Form&nbsp;10-K for the Fiscal Year Ended February&nbsp;3,
2024</B></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><B>File No.&nbsp;001-00303</B></TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We submit this letter in response to the comments from the staff of
the Division of Corporation Finance of the Securities and Exchange Commission (the &ldquo;SEC&rdquo; or the &ldquo;Staff&rdquo;). We received
the Staff&rsquo;s letter dated February&nbsp;25, 2025 with additional Staff comments (&ldquo;Follow Up Comment Letter&rdquo;), in connection
with our response dated February&nbsp;11, 2025 to the Staff&rsquo;s letter dated January&nbsp;17, 2025, pertaining to The Kroger Co. (the
 &ldquo;Company&rdquo; or &ldquo;we&rdquo;) Form&nbsp;10-K referenced below. The headings and numbered paragraphs of this letter correspond
to the headings and paragraph numbers contained in the Follow Up Comment Letter. For ease of review, the Staff&rsquo;s comments are reproduced
below, followed by our responses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Form&nbsp;10-K for the Fiscal Year Ended February&nbsp;3, 2024</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Item 7. Management&rsquo;s Discussion and Analysis of Financial
Condition and Results of Operations</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Use of Non-GAAP Financial Measures, page&nbsp;29</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>We have reviewed your response and proposed disclosure to prior comment 1 noting it does not appear to address our comment. As &ldquo;merchandise
costs, including advertising, warehousing, and transportation, excluding depreciation and amortization and rent expenses&rdquo; is not
fully loaded, the &ldquo;merchandising margin&rdquo; and &ldquo;merchandising margin, as a percentage of sales&rdquo; you present do not
appear to be in accordance with U.S. GAAP. If you continue to present non-GAAP FIFO merchandising margin and FIFO merchandising margin,
as a percentage of sales, you are required to present with equal or greater prominence and reconcile from fully-loaded gross profit and
margin measures prepared in accordance with U.S. GAAP.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Refer to Items 10(e)(i)(A)&nbsp;and (B)&nbsp;of Regulation
S-K and Question 102.10(a)&nbsp;of the Non-GAAP Financial Measures Compliance and Disclosure Interpretations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Kroger Response</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company respectfully acknowledges the Staff&rsquo;s comment and
advises the Staff that in future filings, the Company will present fully-loaded gross profit and gross margin measures prepared in accordance
with Generally Accepted Accounting Principles (&ldquo;GAAP&rdquo;) with equal or greater prominence compared to non-GAAP FIFO gross profit
and FIFO gross margin, as a percentage of sales. Further, the Company will reconcile non-GAAP FIFO gross profit and FIFO gross margin,
as a percentage of sales, to fully-loaded gross profit and margin measures prepared in accordance with GAAP to the extent these measures
are disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Liquidity and Capital Resources</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Net cash provided by operating activities, page&nbsp;42</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>We note your response to prior comment 2. Please expand your proposed disclosure revisions to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Disclose the reasons why you believe the presentation of &ldquo;net earnings including noncontrolling interests, adjusted for non-cash
items&rdquo; provides useful information to investors and additional purposes for which the management uses this non-GAAP measure. Refer
to Items 10(e)(1)(i)(C)&nbsp;and (D)&nbsp;of Regulation S-K.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Clarify the nature of the adjustment for &ldquo;deferred income taxes&rdquo; presented in your reconciliation. Please tell us why
this adjustment does not change the recognition and measurement principles required to be applied in accordance with U.S. GAAP. Refer
to Question 100.04 of the Non-GAAP Financial Measures Compliance and Disclosure Interpretations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Kroger Response</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company respectfully acknowledges the Staff&rsquo;s comment and
advises the Staff that in future filings, the Company will not include the measure of &ldquo;Net earnings including noncontrolling interests,
adjusted for non-cash items&rdquo; within its disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We acknowledge that the company and its management are responsible
for the accuracy and adequacy of its disclosures, notwithstanding any review, comments, action or absence of action by the Staff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If you have any questions or require any additional information regarding
this matter, please contact me at (513) 762-4851.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Sincerely,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Todd A. Foley</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Todd A. Foley</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Senior Vice President and Interim Chief Financial Officer</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 97.5%; margin-left: 0.25in">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in">cc:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Ronald L. Sargent</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Christine S. Wheatley</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Brian W. Nichols</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Stacey M. Heiser&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Lee A. Cassiere</TD></TR>
  </TABLE>


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