Shares of Kroger KR climbed over 3.7% Monday just a few trading days after the company saw its stock price sink following the release of its second-quarter financial results. Monday’s jump followed Kroger’s launch of a new clothing brand that looks poised to help the grocery giant continue to compete against the likes of Target TGT and Walmart WMT.ClothingKroger announced on Monday that its new clothing brand called Dip will roll out across the country at 300 Fred Meyer and Kroger Marketplace stores. The new clothing brand, which Kroger created along with fashion giant Joe Mimran—Club Monaco, Joe Fresh, & others—features simple styles for men, women, juniors, kids, and babies.The grocery firm said that 80% of the Dip collection will cost $19 or less. “We've worked closely with Joe and his team to develop a line of clothing that works for today's times – easy to buy, easy to wear, and easy to love,” Kroger's senior VP of merchandising Robert Clark said in a statement. “Dip will transform our apparel business, further redefining the customer experience through Restock Kroger.”Kroger’s latest fashion-forward move follows the likes of Target and Walmart, which both offer more clothing brands than seemingly ever before. Q2 Overview Dip’s debut follows Kroger’s earnings release that saw the firm’s adjusted quarterly earnings pop by over 5% to $0.41 per share. The Cincinnati-based retailer’s earnings beat our Zacks Consensus Estimate, while sales climbed by 1% to $27.9 billion. Yet shares of KR sunk last Thursday following the release.The reason for last week’s decline seems pretty clear at this point. Kroger’s stock price had climbed to a new 52-week high of $32.74 per share just a few trading days before Kroger reported. Therefore, KR stock was likely to be somewhat sold off no matter what the results were.Investors dove back into KR stock Monday following the Dip announcement. But Kroger’s second quarter also featured some impressive highlights. Kroger’s digital sales soared 50%. The company also announced a partnership with Chinese e-commerce powerhouse and Amazon AMZN rival Alibaba BABA during the second quarter, which marks the U.S. grocery giant’s first push into international markets. “We are only two quarters into our three year Restock Kroger plan, and we are making solid progress,” CEO Rodney McMullen said in a company statement.“Kroger customers have more ways than ever to engage with us seamlessly through our recently-launched Kroger Ship, expanded availability of Instacart, successful ClickList offering, and selling Simple Truth in China through Alibaba's Tmall.”Kroger also recently merged with private meal kit powerhouse Home Chef in an effort to compete against the likes of Blue Apron APRN, HelloFresh, and Plated. Furthermore, Kroger introduced in late June a partnership with Nuro to test autonomous delivery.Bottom LineKroger is currently trading at 12.6X forward 12-month Zacks Consensus EPS estimates, which marks a discount compared to its industry’s 17.3X average and the S&P 500’s 17.5X. Investors should also note that KR is trading below its 52-week high of 15.6X and its just under its year-long median of 12.7X.Kroger, which currently boasts 2,800 stores across an array of brands, is a Zacks Rank #3 (Hold) and sports an “A” grade for Value in our Style Scores system. With that said, Kroger’s quarterly and full-year growth outlook does not appear very strong at the moment. This means now might be time to simply keep an eye on Kroger stock.Best Electric Car Stock? You'll Never Guess It.Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.See Zacks Best EV Stock Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alibaba Group Holding Limited (BABA): Free Stock Analysis Report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Target Corporation (TGT): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report The Kroger Co. (KR): Free Stock Analysis Report Blue Apron Holdings, Inc. (APRN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research