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.

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