Biz Brief: Kroger Earnings Top Wall Street Estimates

Grocer Kroger (KG) reported first-quarter earnings Thursday of $0.58 per diluted share, topping Wall Street estimates.

For the last three months, the company's total sales, including fuel, increased 8.7% to $24.8 billion from the same time a year ago. Minus fuel sales, total sales increased 3.1%. And supermarket sales, without fuel, increased 2.4% in the first quarter over the same period last year.

Thomas Reuters analysts expected a profit of 54 cents a share.
In a press release, CEO David B. Dillon said "Our Customer 1st strategy continues to deliver results through improvements in all four key areas we target: our people, our products, the overall shopping experience in our stores, and prices."

Kroger also reaffirmed its sales and earnings guidance for fiscal 2010.

Increase your money and finance knowledge from home

Basics of Diversification

Learn one of the fundamental concepts of building a portfolio.

View Course »

Reading a Stock Quote

Learn to read the ingredients of a stock.

View Course »

Add a Comment

*0 / 3000 Character Maximum