Analysts on average were forecasting earnings of 54 cents a share, KR announced 58 cents. KR’s sales, including fuel, increased 8.7 percent to $24.8 billion in the first quarter, also beating analysts’ estimates of $24.1 billion. Excluding gasoline, sales rose 3.1 percent.
“I am pleased with the strong positive identical-sales growth we achieved in the first quarter while striking a better balance on margin investments,” Kroger Chief Executive Officer David Dillon said in a statement. – source: Reuters
Shares are up nicely by over 3% at the time of this post.