Tags: Kroger | supermarket | earnings | forecast

Kroger Shares Jump After Supermarket Chain Boosts Forecast

Friday, 11 Sep 2015 10:02 AM

Kroger Co. rose as much as 6.6 percent in New York trading after the largest U.S. supermarket chain topped quarterly earnings estimates and raised its forecast for the year.

Second-quarter earnings amounted to 44 cents a share, the company said in a statement Friday. Analysts had projected 40 cents on average, according to data compiled by Bloomberg. Revenue was in line with estimates at $25.5 billion. The company now expects earnings of as much as $1.98 a share in the fiscal year, up from a previous forecast of $1.95.

Kroger, based in Cincinnati, credited its results to same- store sales growth and efforts to control costs. The company also is expanding its e-commerce operations and adding 20,000 new jobs.

The stock climbed as high as $37.75 after the results were posted. The shares had already advanced 10 percent this year through Thursday’s close.

 

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Kroger Co. rose as much as 6.6 percent in New York trading after the largest U.S. supermarket chain topped quarterly earnings estimates and raised its forecast for the year.
Kroger, supermarket, earnings, forecast
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2015-02-11
Friday, 11 Sep 2015 10:02 AM
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