Tags: US | Earns | Kroger

Kroger Profit Falls 27 Percent Despite Sales Gain

Tuesday, 09 Mar 2010 09:47 AM

The Kroger Co.'s profit fell 27 percent in the fourth quarter, even as sales rose with a boost from the grocer's gasoline incentives for regular customers.

The nation's largest traditional grocery chain Tuesday reported profit of $255.4 million, or 39 cents per share, down from $349.2 million or 53 cents, a year ago.

Sales rose 7 percent to $18.6 billion. Excluding fuel, sales were up 2 percent.

Analysts expected 34 cents per share on $17.73 billion of revenue.

In the heated competition for recession-strapped households, Kroger has expanded discounts at its gas stations for regular customers, who can get at least 10 cents off a gallon for every $100 in grocery store purchases.

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The Kroger Co.'s profit fell 27 percent in the fourth quarter, even as sales rose with a boost from the grocer's gasoline incentives for regular customers.The nation's largest traditional grocery chain Tuesday reported profit of $255.4 million, or 39 cents per share, down...
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