CINCINNATI — Kroger Co. here said sales trends have continued to improve in its fiscal third quarter. In a statement issued before the start of its investor conference here yesterday, Kroger said sales in the first eight weeks of the quarter, which began on Aug. 17, same-store sales were trending “above 5%,” excluding fuel. Sales in the second four weeks of the quarter were stronger than sales in the first four weeks of the quarter, which the company previously had said were trending stronger than the second quarter. The results include stores that were temporarily closed because of Hurricane Ike. The company also confirmed previous guidance that it expects same-store sales growth of 4.5% to 5.5% for the year, and earnings growth of 9% to 12%. During the investor conference, Kroger addressed a range of issues, including the proliferation of small-format stores. The company said it believes in the viability of such stores, but is approaching that niche through its convenience-store division.
Read More of Today's Headlines
