Sep. 11 at 5:46 PM
Kroger’s Q2 earnings beat expectations, prompting the grocery giant to raise its full-year outlook. Identical sales excluding fuel grew 3.4% year-over-year, topping the 2.8% forecast, while adjusted earnings reached
$1.04 per share versus the expected
$0.99. For the fiscal year, Kroger now expects sales growth of 2.7%–3.4% and raised its earnings floor to
$4.70 per share. Growth was driven by pharmacy, fresh produce, and e-commerce, which rose 16% year-over-year. Rising restaurant prices are keeping more consumers shopping at grocery stores. Kroger shares are up 1.9% and have gained 11.7% so far this year.
$KR