Kroger 2008 Annual Report Download - page 51

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The Kroger Co. Page 50
PERFORMANCE GRAPH
Set forth below is a line graph comparing the five-year cumulative total
shareholder return on the Company’s common stock, based on the market
price of the common stock and assuming reinvestment of dividends, with
the cumulative total return of companies in the Standard & Poor’s 500
Stock Index, a peer group composed of food and drug companies, and a
former peer group.
Historically, the Company’s peer group has consisted of the major food
store companies. In recent years, there have been significant changes in
the industry, including consolidation and increased competition from
supercenters, drug chains, and discount stores. As a result, several years
ago we changed our peer group (the “Former Peer Group”) to include
companies operating supermarkets, supercenters and warehouse clubs in
the United States as well as the major drug chains with which Kroger
competes. This year we changed our peer group (the “Peer Group”) once
again to add Tesco plc, as it has become a significant competitor in the
U.S. market.
BASE
INDEXED RETURNS
PERIOD
Years Ending:
2003
2004
2005
2006
2007
2008
THE KROGER CO.
100
93.04
100.22
140.78
143.01
125.42
S&P 500 INDEX
100
105.34
117.59
135.22
132.78
80.51
PEER GROUP**
100
108.99
107.87
122.24
125.95
102.29
FORMER PEER GROUP***
100
107.06
104.95
115.57
119.97
96.11
0
20
40
60
80
100
120
140
160
2003
2004
2005
2006
2007
2008
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN*
Among The Kroger Co., the S&P 500, Peer Group**, and Former Peer Group***
The Kroger Co.
S&P 500 Index
Peer Group
Former Peer Group