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Motor Company","tier":3,"returns_yearly":{"2021":-16.7,"2022":-4.7,"2023":16.2,"2024":12.3,"2025":158.8,"2026":-34.2}},{"slug":"hyundai-wia","name":"현대위아","name_en":"Hyundai Wia","tier":3,"returns_yearly":{"2021":-25.5,"2022":-19.2,"2023":9,"2024":-32.2,"2025":125.1,"2026":-39.8}},{"slug":"nike","name":"Nike","name_en":"Nike","tier":3,"returns_yearly":{"2021":18.7,"2022":-29,"2023":-6,"2024":-29.1,"2025":-13.8,"2026":-44.1}},{"slug":"d-wave","name":"D-Wave Quantum","name_en":"D-Wave Quantum","tier":3,"returns_yearly":{"2022":-85.3,"2023":-38.9,"2024":854.5,"2025":211.3,"2026":-44.3}},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":3,"returns_yearly":null},{"slug":"cerebras","name":"Cerebras","name_en":"Cerebras Systems","tier":3,"returns_yearly":null},{"slug":"arianegroup","name":"아리안그룹","name_en":"ArianeGroup","tier":3,"returns_yearly":null}],"analysis":"미국 식료품 유통망 기업. 2026년 -4.6%다. 수요단(평균 -2.2%)·본주(-4.6%)·공급단(평균 -6.9%)이 비슷한 보폭이다. 전파가 한 바퀴 돈 동조 국면이라, 다음 구간은 사슬 방향보다 개별 실적이 가른다. 연결 노드 중 가장 앞선 곳은 펩시코(-2.2%), 가장 처진 곳은 우버(-7.3%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"The Kroger Co. operates across U.S. grocery retailer. It is -4.6% in 2026. Demand side (avg -2.2%), the stock (-4.6%) and supply side (avg -6.9%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is PepsiCo (-2.2%) and the furthest behind is Uber (-7.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Its cost base is led by merchandise procurement and distribution, supported by a mix of automated fulfillment and third-party delivery networks.","analysis_asof":"2026-09-04"},"edges":[{"direction":"cost","counterparty":"오카도 그룹","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-03-31","basis":"일부 자동화 풀필먼트 센터 폐쇄·취소에 따른 오카도 현금 종료대금","value":350000000,"period":"FY2025","basis_en":"Cash termination payment to Ocado for closing and canceling selected automated fulfillment centers","qualifier":null},"note":"오카도는 크로거 자동화 고객 풀필먼트 센터의 로봇 장비와 플랫폼을 공급했다. 크로거는 일부 센터 폐쇄와 취소에 따라 FY2025에 오카도에 현금 종료대금을 지급했다.","note_en":"Ocado supplied robotic equipment and platform technology for Kroger's automated customer fulfillment centers. Kroger made a cash termination payment to Ocado in FY2025 after closing and canceling selected facilities.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/56873/000110465926037723/kr-20260131x10k.htm","title":"KROGER CO 10-K (2026-03-31)","title_en":"KROGER CO 10-K (2026-03-31)","excerpt":"크로거는 센터 폐쇄와 취소에 따른 오카도 현금 종료대금을 약 3억5,000만달러로 공시했다.","excerpt_en":"cash termination payment to Ocado of approximately $350"},{"stance":"confirms","publisher":"뉴스핌","publisher_en":"Newspim","kind":"news","lang":"ko","published_at":"2025-12-31","url":"https://ir.newspim.com/news/view/20251231000521","title":"[AI의 종목 이야기] 오카도, 크로거에 '독점 공급' 포기…글로벌 기술 개방","title_en":"Ocado Ends Exclusive Supply Arrangement with Kroger and Opens Technology Globally","excerpt":"2018년 시작된 크로거와의 파트너십은 오카도의 핵심 '레퍼런스 딜'이었지만, 자동화 물류센터 네트워크의 성과가 기대에 미치지 못했다.","excerpt_en":"The Kroger partnership began in 2018 as a key reference deal for Ocado, but the automated fulfillment network underperformed expectations."},{"stance":"mentions","publisher":"RetailStat","publisher_en":"RetailStat","kind":"analysis","lang":"en","published_at":"2025-07-30","url":"https://rs-api.retailstat.com/uploads/Kroger_Special_Analysis_7f1b7e9521.pdf","title":"Kroger FY25: Performance, Portfolio Optimization & The Path Forward","title_en":"Kroger FY25: Performance, Portfolio Optimization & The Path Forward","excerpt":"분석은 오카도 기술이 크로거의 자동화 고객 풀필먼트 센터 구축을 가능하게 했다고 설명한다.","excerpt_en":"This enabled the Company to roll out eight Customer Fulfillment Centers"}]},{"direction":"investment","counterparty":"홈 셰프","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2018-06-22","basis":"홈 셰프 합병 초기 거래대금","value":200000000,"period":"2018 acquisition","basis_en":"Initial transaction price for the Home Chef merger","qualifier":null},"note":"크로거는 밀키트 역량을 확보하기 위해 홈 셰프 합병을 완료했다. 초기 거래대금과 별도로 성과 조건부 추가 지급 조항이 있었다.","note_en":"Kroger completed its merger with Home Chef to add meal-kit capabilities. The agreement included an initial transaction price plus performance-contingent earnout payments.","sources":[{"stance":"confirms","publisher":"크로거 투자자관계","publisher_en":"The Kroger Co. Investor Relations","kind":"ir","lang":"en","published_at":"2018-06-22","url":"https://ir.kroger.com/news/news-details/2018/Kroger-Completes-Merger-with-Home-Chef/default.aspx","title":"Kroger Completes Merger with Home Chef","title_en":"Kroger Completes Merger with Home Chef","excerpt":"크로거는 홈 셰프 합병의 초기 거래대금을 2억달러로 발표했다.","excerpt_en":"The initial transaction price is $200 million"}]},{"direction":"revenue","counterparty":"Express Scripts","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-02-05","basis":"Express Scripts 네트워크 처방 조제 및 건강 서비스 계약 금액","value":null,"period":"2025 pharmacy provider agreement","basis_en":"Value of the Express Scripts network prescription dispensing and health services agreement","qualifier":"confirmed_no_disclosed_value"},"note":"Express Scripts는 처방약 급여를 관리하고 네트워크 약국의 조제를 정산하는 PBM이다. 2025년 새 계약에 따라 크로거 약국은 Express Scripts의 Medicare Part D와 TRICARE 고객에게 다시 처방약과 건강 서비스를 제공한다.","note_en":"Express Scripts is a pharmacy benefit manager that administers prescription benefits and reimburses network pharmacies for dispensing services. Under a new 2025 agreement, Kroger pharmacies resumed providing prescriptions and health services to Express Scripts Medicare Part D and TRICARE customers.","sources":[{"stance":"confirms","publisher":"크로거 투자자관계","publisher_en":"The Kroger Co. Investor Relations","kind":"ir","lang":"en","published_at":"2025-02-05","url":"https://ir.kroger.com/news/news-details/2025/The-Kroger-Co.-Executes-New-Agreement-with-Express-Scripts/default.aspx","title":"크로거, Express Scripts와 새 계약 체결","title_en":"The Kroger Co. Executes New Agreement with Express Scripts","excerpt":"크로거 헬스와 Express Scripts는 새 계약을 맺었으며, 크로거 약국은 Express Scripts의 Medicare Part D 및 TRICARE 고객에 대한 서비스를 즉시 재개했다.","excerpt_en":"Under the new agreement, the Kroger Family of Pharmacies immediately resumes serving customers who are part of Express Scripts' Medicare Part D plans and Tricare/Department of Defense (DOD) plans."},{"stance":"confirms","publisher":"크로거 투자자관계","publisher_en":"The Kroger Co. Investor Relations","kind":"ir","lang":"en","published_at":"2022-09-30","url":"https://ir.kroger.com/news/news-details/2022/Seeking-More-Equitable-Contract-Kroger-Health-Sends-Notice-of-Intent-to-Terminate-to-Express-Scripts-Inc/default.aspx","title":"더 공정한 계약을 요구하며 크로거 헬스가 Express Scripts에 계약 종료 의향 통지","title_en":"Seeking More Equitable Contract, Kroger Health Sends Notice of Intent to Terminate to Express Scripts, Inc.","excerpt":"크로거는 새 계약이 약사 등 2만2,000명의 의료 전문인력이 수행한 업무를 공정하게 보상해야 한다고 밝혔다.","excerpt_en":"Any new agreement would need to ... ensure Kroger is fairly compensated for the work done by our 22,000 health care professionals."}]},{"direction":"revenue","counterparty":"PepsiCo","counterparty_slug":"pepsico","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2023-04-19","basis":"PepsiCo의 Kroger Precision Marketing 광고 집행액","value":null,"period":"2023 KPM-Disney advertising program","basis_en":"PepsiCo advertising spend with Kroger Precision Marketing","qualifier":"confirmed_no_disclosed_value"},"note":"PepsiCo는 Kroger Precision Marketing의 광고주다. PepsiCo는 KPM과 Disney가 크로거 구매 데이터를 활용해 Hulu 광고를 표적화하고 매출 효과를 측정한 프로그램의 최초 광고주로 참여했다.","note_en":"PepsiCo is an advertiser with Kroger Precision Marketing. It was the first advertiser in a KPM and Disney program that used Kroger purchase data to target Hulu advertising and measure sales impact.","sources":[{"stance":"confirms","publisher":"Disney Advertising","publisher_en":"Disney Advertising","kind":"ir","lang":"en","published_at":"2023-04-19","url":"https://press.disneyadvertising.com/disney-and-kroger-precision-marketing-connect-retail-media-insights-to-premium-content-in-streaming-tv","title":"Disney와 Kroger Precision Marketing, 리테일 미디어 인사이트를 스트리밍 TV 프리미엄 콘텐츠에 연결","title_en":"Disney and Kroger Precision Marketing Connect Retail Media Insights To Premium Content In Streaming TV","excerpt":"PepsiCo는 알파 테스트에서 KPM과 Disney와 함께한 최초 광고주였다.","excerpt_en":"PepsiCo was the first advertiser to work with KPM and Disney during alpha testing."},{"stance":"confirms","publisher":"EMARKETER","publisher_en":"EMARKETER","kind":"analysis","lang":"en","published_at":"2023-04-19","url":"https://www.emarketer.com/content/kroger-partners-with-disney-latest-retail-media-enhancement","title":"크로거, 최신 리테일 미디어 강화를 위해 Disney와 제휴","title_en":"Kroger partners with Disney for latest retail media enhancement","excerpt":"Disney Advertising, Kroger Precision Marketing, PepsiCo의 베타 테스트는 크로거 쇼핑 데이터를 이용해 Disney 플랫폼에서 광고 대상을 정하며, 초기 테스트에서 Pepsi의 매출과 가구 침투율이 통계적으로 유의하게 증가했다.","excerpt_en":"Disney Advertising is partnering with Kroger Precision Marketing (KPM) and PepsiCo for a beta test ... Pepsi already experienced a 'statistically significant' increase in sales and household penetration in early tests."}]},{"direction":"cost","counterparty":"Uber","counterparty_slug":"uber","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-01-15","basis":"크로거 전국 매장 배송 제휴 금액","value":null,"period":"2026 nationwide rollout","basis_en":"Value of the nationwide Kroger store delivery partnership","qualifier":"confirmed_no_disclosed_value"},"note":"Uber는 크로거의 식료품과 생활용품을 주문형·당일 배송하는 제3자 유통 플랫폼이다. 계약 금액은 공개되지 않았다.","note_en":"Uber is a third-party distribution platform providing on-demand and same-day delivery for Kroger groceries and household essentials. The contract value has not been disclosed.","sources":[{"stance":"confirms","publisher":"크로거","publisher_en":"The Kroger Co.","kind":"ir","lang":"en","published_at":"2026-01-15","url":"https://www.thekrogerco.com/ir-feed-item/kroger-launches-fast-convenient-delivery-on-uber-apps-nationwide-2/","title":"Kroger Launches Fast, Convenient Delivery on Uber Apps Nationwide","title_en":"Kroger Launches Fast, Convenient Delivery on Uber Apps Nationwide","excerpt":"크로거와 Uber는 미국 전역 약 2,700개 매장을 Uber 앱에 출시했다고 발표했다.","excerpt_en":"nearly 2,700 Kroger Family of Companies stores on the Uber Eats, Uber, and Postmates apps"},{"stance":"mentions","publisher":"RetailStat","publisher_en":"RetailStat","kind":"analysis","lang":"en","published_at":"2025-07-30","url":"https://rs-api.retailstat.com/uploads/Kroger_Special_Analysis_7f1b7e9521.pdf","title":"Kroger FY25: Performance, Portfolio Optimization & The Path Forward","title_en":"Kroger FY25: Performance, Portfolio Optimization & The Path Forward","excerpt":"분석은 크로거의 라스트마일 제휴사 가운데 Uber Eats를 명시한다.","excerpt_en":"partnerships with Instacart, DoorDash, and Uber Eats"}]},{"direction":"cost","counterparty":"도어대시","counterparty_slug":"doordash","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2025-09-29","basis":"크로거 전 상품 배송 파트너십 금액","value":null,"period":"2025 partnership expansion","basis_en":"Value of the partnership covering delivery of Kroger's full assortment","qualifier":"confirmed_no_disclosed_value"},"note":"도어대시는 크로거의 매장 상품을 소비자에게 전달하는 제3자 라스트마일 유통 파트너다. 계약 금액은 공개되지 않았다.","note_en":"DoorDash is a third-party last-mile distribution partner that delivers Kroger's store assortment to consumers. The contract value has not been disclosed.","sources":[{"stance":"confirms","publisher":"AP통신","publisher_en":"Associated Press","kind":"news","lang":"en","published_at":"2025-09-29","url":"https://apnews.com/article/doordash-kroger-grocery-delivery-partners-7c74d2e66810620ab349545c7ef2be52","title":"DoorDash and Kroger are expanding their grocery delivery partnership","title_en":"DoorDash and Kroger are expanding their grocery delivery partnership","excerpt":"도어대시는 2025년 10월부터 크로거의 미국 매장 약 2,700곳에서 전 상품 배송을 제공하기로 했다.","excerpt_en":"DoorDash will offer delivery from Kroger's 2,700 U.S. stores"},{"stance":"mentions","publisher":"RetailStat","publisher_en":"RetailStat","kind":"analysis","lang":"en","published_at":"2025-07-30","url":"https://rs-api.retailstat.com/uploads/Kroger_Special_Analysis_7f1b7e9521.pdf","title":"Kroger FY25: Performance, Portfolio Optimization & The Path Forward","title_en":"Kroger FY25: Performance, Portfolio Optimization & The Path Forward","excerpt":"분석은 크로거가 도어대시 등과의 제휴로 라스트마일 역량을 확대했다고 평가한다.","excerpt_en":"Its last-mile capabilities have also expanded through partnerships with Instacart, DoorDash, and Uber Eats."}]}]}