CINCINNATI — Kroger Co. here said Thursday identical-store sales, excluding fuel, rose 4.6% for the fiscal first quarter — the 30th consecutive quarter of positive ID sales.
Net income for the quarter, which ended May 21, increased 15.7% to $432.3 million, while total sales were up 11% to $27.5 billion. Kroger updated its earnings and sales guidance for the year, with earnings expected to fall between $1.85 and $1.95 per share, compared with previous guidance of $1.80 to $1.92 per share; and anticipated ID sales growth, excluding fuel, of 3.5% to 4.5%, compared with previous guidance of 3% to 4%.
"Our 'customer first' strategy will drive increased sales, cash flow and earnings growth well into the future," David B. Dillon, chairman and chief executive officer, said.
