Thursday, Kroger Co. (KR) said that the majority of contracts covering associates with its divisions King Soopers and City Market in Colorado who are represented by United Food & Commercial Workers Union Local 7 have been ratified.
According to the Cincinnati, Ohio-headquartered company, the new agreement covers more than 9,000 associates who work in King Soopers stores and City Market stores throughout Colorado. The new contract increases compensation, helps stabilize the pension fund and expands health care services at no additional cost to associates.
"We are pleased that a majority of our associates recognize the value of our offer and voted to accept it and ratify a new contract," said Russ Dispense, president of King Soopers. "Our goal is to continue to provide our associates one of the best total compensation packages in our industry and region. This agreement does that," he added.
Grocery retailer Kroger employs more than 326,000 associates who serve customers in 2,469 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 773 convenience stores, 392 fine jewelry stores, 850 supermarket fuel centers and 40 food processing plants in the United States.
KR closed Thursday's last trade on the New York Stock Exchange at $20.35, down $0.16 or 0.78%. In the after hours, the stock further traded down $0.01 or 0.05%.
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