<p>Kroger Co. has closed in on a major milestone recently-- $100 billion in annual sales, according to company CEO David Dillon. This success is being attributed to the company’s recent growth strategy which is proving to be boosting market shares.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">“We are confident that this strategy will be both resilient and sustainable for the longer term,” Dillon said. 500 attendees at Kroger’s annual shareholder meeting approved his $7.8 million pay package, voting against a proposal to strip Dillon of his chairmanship of the company’s board of directors.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Kroger’s fiscal year that ended Feb. 2, Dillon noted total sales grew 7.1 percent to $96.8 billion. The company generated a $1.5 billion profit. Sales at stores open at least 15 months grew 3.5 percent for the year, excluding fuel.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">During 2012, Kroger generated $2.77 in earnings per share, up 16 percent from 2011. Last November, the company raised its long-term earnings per share target to 8 to 11 percent growth from 6 to 8 percent.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Dillon recently stated in an interview that Kroger plans to continue opening larger stores to meet the consumer’s demand of a wide selection of products. He also defended the company’s decision to end the redemption of double coupons claiming that the stores lower prices overall benefit customers more than the double couponing would.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">A group of 50 picketed the shareholder’s meeting in protest of Kroger’s refusal to sign a pact to improve working conditions for Florida farm workers picking tomatoes. Kroger claims to have declined due to the fact that they would lose negotiating power with their suppliers by signing such a deal, which would also cost the grocer an extra cent per pound of tomatoes purchased.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Dillon stated that there were “exciting opportunities” ahead for Kroger. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.kroger.com/Pages/default.aspx " target="_new">Kroger </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
