What The Kroger Co. told the SEC could break it.

Kroger's product supply can be interrupted by loss/disruption of supply arrangements, labor disputes, key manufacturing-site impairment, trade sanctions, tariffs, supplier financial distress, natural disasters, or ethical-sourcing issues — factors largely outside its control.

“The loss or disruption of such supply arrangements for any reason, labor disputes, loss or impairment of key manufacturing sites, acts of war or terrorism, disruptive global political events, quality control issues, a supplier's financial distress, natural disasters or health crises, regulatory actions or ethical sourcing issues, trade sanctions, tariffs or other external factors over which we have no control, could interrupt product supply and, if not effectively managed and remedied, have an adverse effect on our business, financial condition, results of operations or cash flows.”

Kroger relies on third parties to process credit and debit card payments; if these processors become unwilling or unable to provide service (even short-term), it could disrupt Kroger's business, on top of interchange-fee and payment-network rule exposure.

“We rely on third parties to provide payment transaction processing services for credit and debit cards. It could disrupt our business if these companies become unwilling or unable to provide these services to us, including due to short-term disruption of service.”

Many Kroger stores, distribution and fulfillment facilities sit in areas prone to hurricanes, tornadoes, floods, droughts, wildfires, ice/snow storms, and earthquakes; such events disrupt operations, raise product/energy costs, and climate change may impair its ability to procure needed commodities.

“A large number of our stores, distribution facilities and fulfillment centers are geographically located in areas that are susceptible to hurricanes, tornadoes, floods, droughts, wildfires, ice and snow storms, and earthquakes. Weather conditions and natural disasters have, and may again in the future, disrupt our operations at one or more of our facilities, interrupt the delivery of products to our stores, substantially increase the cost of products, including supplies and materials, and substantially increase the cost of energy needed to operate our facilities or deliver products to our facilities.”

Several states have adopted Extended Producer Responsibility (EPR) packaging legislation that Kroger must comply with, adding packaging-related regulatory and cost obligations on top of broad antitrust, privacy, environmental, and healthcare regulation.

“In addition, certain states have adopted Extended Producer Responsibility (“EPR”) packaging legislation with which we must comply.”