Kroger Stock Slides As Same Store Sales Guide Clouds Earnings Beat, Outlook Boost

Updated at 8:42 am EST

Kroger Co.  (KR) – Get Kroger Company (The) Report posted stronger-than-expected first quarter earnings Thursday, and boosted its full-year profit forecast, as customers shifted focus to food and staples purchases amid the fastest domestic inflation in more than four decades.

Kroger said adjusted earnings for the three months ending on May 21 came in at $ 1.45 per share, up 21.8% from the same period last year and well ahead of the Street consensus forecast of $1.30 per share. Group sales, Kroger said, were up 11% to $44.6 billion and again topped analysts’ consensus forecast of $44.24 billion tally. 

Source link

Leave a Reply

Your email address will not be published.