Kroger Q2 Sales Hit $34.6B, EPS $1.09; Cost Cuts Offset Price Pressure
KR is trading near its 52-week low of $54.15 (9.5% above the low).
Summary
Kroger reported Q2 sales of $34.62B, up 2% year-over-year, with adjusted EPS of $1.09, a 5% increase. GAAP net income was $641M. eCommerce sales jumped 20%, and the company bought back $1B in stock during the quarter. Cost cuts helped ease price pressure, but inflation, pharmacy policy impacts, and weak egg prices trimmed results. This follows the September 11 guidance cut for identical sales ex-fuel to 0.2%-0.8% growth, down from 1%-2%. The Q2 results provide the first hard numbers since that cut, showing the company is managing costs while facing consumer pressure.
At the time of this announcement, KR was trading at $59.32 on NYSE in the Trade & Services sector, with a market capitalization of approximately $35.8B. The 52-week trading range was $54.15 to $76.58. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.