Kroger’s profit beats Wall Street expectations

FILE - In this file photo from Monday, March 3, 2014, specialist Gregg Maloney works on the floor of the New York Stock Exchange. (AP File Photo/Richard Drew)
FILE - In this file photo from Monday, March 3, 2014, specialist Gregg Maloney works on the floor of the New York Stock Exchange. (AP File Photo/Richard Drew)

NEW YORK (AP) — Kroger is reporting a better-than-expected fourth-quarter profit as the nation’s largest supermarket operator saw a key sales figure rise.

The Cincinnati-based company, which also operates Ralphs and Fry’s, has fared better than its peers in adapting to a shifting supermarket landscape that is undergoing consolidation. In particular, supermarkets are facing stiffer competition from big-box retailers, specialty chains and other players.

For the period ending Feb. 1, Kroger Co. said sales at established locations rose 4.3 percent, excluding fuel.
It earned $422 million, or 81 cents per share. Excluding one-time items, it earned 78 cents per share, topping the 72 cent per share Wall Street expected.

A year ago, it earned $462 million, or 88 cents per share.

Revenue came in at $23.22 billion, above the $23.15 billion analysts expected.

WLFI.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus