Pearl Street is gone, but Kroger lives on.
In 1883, Bernard “Barney” Kroger, the son of German immigrants, invested his life savings of $372 and another $350 from his close friend B.A. Branagan, to open the Great Western Tea Co., a grocery store at 66 Pearl Street in downtown Cincinnati.
Back then, Pearl Street was a major thoroughfare in the city’s busy riverfront commercial district. The storefront was located directly across the street from the Pearl Street Market, where local farmers came into the city to sell their produce.
You won’t find any trace of Pearl Street today. The block was wiped out by the construction of Interstate 75, Fort Washington Way, and the city’s sports stadiums.
However, that single store eventually grew into Kroger, the largest traditional supermarket chain in the United States. Here’s a closer look at the grocery behemoth’s history, including a timeline of major milestones spanning more than 140 years.
Kroger’s early history: A series of firsts
This is a company of firsts. In 1901, Kroger became the first grocery chain in the U.S. to establish its own in-house bakeries. A few years later, the company purchased a meatpacking company and integrated butcher counters directly into its grocery stores.
Barney Kroger also helped pioneer the private-label business. Starting with his mother’s sauerkraut and fresh bread, Kroger began manufacturing his own products to cut out middleman costs and pass savings to customers.
“Do it first,” Barney Kroger reportedly said. “When seasonal goods come onto the market, have them first. When prices go down, be the first to reduce them. Never sell anything except for what it is, and don’t sell it if it isn’t good.”
In 1913, Kroger was among the first major grocery chains to mass-adopt motorized delivery, using a fleet of Ford Model T trucks.
Three years later, the company began testing self-service shopping, helping transform how customers selected and purchased groceries.
When the 70s rolled around, Kroger became the first American grocery retailer to pilot an electronic checkout scanner system in a Cincinnati store in 1972.
However, the 12-digit Universal Product Code (UPC) made its first commercial scan in 1974, when a 10-pack of Wrigley’s Juicy Fruit chewing gum was scanned at a Marsh Supermarket in Troy, Ohio.
Houston Chronicle/Hearst Newspapers / Getty Images
Kroger’s stock & financials
Kroger went public on Jan. 26, 1928, on the New York Stock Exchange. The company entered the S&P 500 on March 4, 1957, and has had five 2-for-1 stock splits in its history. Today, it employs roughly 407,000 associates.
In 2025, Kroger reported $147.6 billion in sales, up from $147.1 billion the previous year. GAAP net income was $1.016 billion, or $1.54 per diluted share, down sharply from 2024, reflecting significant impairment and related charges. Adjusted earnings were $4.85 per share, up 9% from 2024.
Wall Street analysts generally rate Kroger as a “Moderate Buy” or “Buy,” balancing steady operational performance with margin pressures and fierce competition in the grocery sector.
Related: History of Palantir: Company timeline, facts & milestones
Kroger CEO Greg Foran’s $5 billion plan
Greg Foran, a New Zealand businessman, became Kroger’s CEO on Feb. 9, 2026, succeeding interim CEO Ron Sargent, who had stepped in following the departure of former CEO Rodney McMullen in March 2025.
“Kroger is one of the most dynamic companies in retail,” Foran said in a statement. “At this moment in Kroger’s journey, I can honestly say this is the best job on the planet.”
“I look forward to working with the Board and the entire team to build on this momentum, continue raising the bar for customers, and deliver long-term value for customers, associates, and shareholders.”
In October, Kroger unveiled a $5 billion investment plan to lower prices and improve the shopping experience, part of Foran’s strategy to revive the grocer’s core business amid intensifying competition and cautious consumer spending.
The investment, which the company expects to realize by 2029, will also focus on simplifying promotions, improving merchandising, refreshing store formats and boosting loyalty programs, Kroger said during its investor day.
Related: History of Meta: Company timeline, facts & milestones
The plan also includes eliminating about 3,000 corporate jobs over three years, more than 37% of its corporate workforce, as the company seeks to cut complexity, streamline operations and make greater use of technology and artificial intelligence.
“We have the opportunity to make changes that will create broader roles and faster decision-making,” Foran wrote in a memo. “This lets us move vital resources closer to the customer to lower prices, invest in our associates and create a better shopping experience.”
Kroger’s challenges
Like any business, Kroger has faced its share of challenges. Early in its history, a delivery wagon was destroyed in a train accident, and the company’s only horse was killed.
Then, in 1884, the Ohio River flooded overnight, ruining the store. Undeterred, Kroger and Branagan opened a new location.
Today, Kroger is contending with rising costs, shifting consumer spending, and intense competition from rivals such as Amazon, Walmart, and Costco, as lower-income shoppers make fewer trips, shift to lower-cost alternatives, and put pressure on traditional grocers to demonstrate value.
Kroger also faces an unresolved legal dispute stemming from its failed effort to acquire Albertsons.
In October 2022, Kroger agreed to acquire Albertsons for $24.6 billion. However, the Federal Trade Commission and multiple state attorneys general sued to block the merger, arguing that it would reduce competition and hurt consumers.
Courts blocked the deal in December 2024, and the companies terminated their merger agreement.
Albertsons subsequently sued Kroger, seeking a $600 million termination fee and additional damages that could bring its total claim to about $9.3 billion.
Related: History of Walmart: Company timeline & facts
The Boise, ID-based Albertsons alleges that Kroger “willfully” breached its contractual obligations to use “best efforts” to obtain antitrust approval for the merger. Kroger denies wrongdoing and has filed counterclaims against Albertsons.
During the trial, McMullen, the former CEO, testified that he did not believe the merger had a chance of succeeding because of opposition from Lina Khan, who was then head of the Federal Trade Commission, according to Supermarket News.
The Delaware Court of Chancery concluded two weeks of courtroom proceedings on Oct. 30. A final ruling is expected in 2027.
Kroger has come a long way from those early days on Pearl Street, but the words of its founder still resonate today.
“Give me $722 and my youth again, and I would start tomorrow to build a business as big or bigger,” Barney Kroger once said. “The thing that matters is an attitude toward values.”
A timeline of major milestones in Kroger’s history
1883: Bernard (“Barney”) Kroger and B.A. Branagan open the Great Western Tea Company at 66 Pearl Street in Cincinnati, Ohio, with a $372 investment.
1884: Kroger opens a second store in Cincinnati.
1901: Kroger becomes the first grocery chain to establish its own in-house bakery.
1885: Kroger buys out his business partner, expanding the operation to four grocery stores.
1904: Kroger acquires a meat company and introduces the first in-house meat departments.
1916: Kroger pioneers self-service shopping, shifting away from the traditional model where clerks retrieved items from behind a counter.
Jan. 26, 1928: Kroger goes public on the New York Stock Exchange.
March 4, 1957: Kroger enters the S&P 500.
November 15, 1960: Kroger enters the pharmacy business by acquiring Sav-On Drug Stores and launching SupeRx drugstores.
May 28, 1999: The Federal Trade Commission (FTC) approves Kroger’s merger with Fred Meyer, adding banners like Ralphs, QFC, and Fry’s.
2001–2018: Strategic acquisitions continue, including Baker’s (2001), Harris Teeter (2014), Vitacost.com (2014), Roundy’s (2015), and Home Chef (2018).
October 14, 2022: Kroger and Albertsons (ACI) officially announced their definitive merger agreement.
February 26, 2024: The Federal Trade Commission files an administrative and federal lawsuit alongside state attorneys general to block the merger.
December 11, 2024: Both companies formally terminate the agreement, triggering a legal dispute in the Delaware Court of Chancery
Related: History of Alphabet: Company timeline, milestones & facts
