CINCINNATI — Kroger Co. on Friday said second-quarter earnings increased by 7.3% on a sales increase of 11.5%, but its stock tumbled in early trading as gross margins slid by 53 basis points. Kroger reported earnings of $280.8 million on sales of $18.8 billion in the quarter, which ended Aug. 13. Identical-store sales excluding fuel increased by 5.3% in the quarter. Earnings per share of 46 cents exceeded analyst estimates of 43 cents. The sales results prompted Kroger to raise its ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.