Kroger’s history dates back to 1883, when Barney Kroger opened a grocery store in Cincinnati, Ohio. Over the years, the company has worked hard to provide customers with quality products. Kroger’s quality and consistent service have helped it become the leading supermarket in the United States. Today it operates thousands of supermarkets, pharmacies, jewelry stores and many food production facilities.
After the company reported better-than-expected adjusted earnings for the fourth quarter, the stock rose more than 2% on Thursday. The supermarket giant announced a loss of 10 cents per share for the three months ended January 30, while the company lost 40 cents per share in the same period in 2019. After the adjustment, Kroger’s earnings per share were 81 cents. Expect consensus. 69 cents per share.
Sales were up 10.7% year-over-year to $ 30.74 billion, but slightly lower than analysts estimate of $ 30.83 billion. On the other hand, digital sales for the quarter are up 118% year on year. The same store sales were up 10.6%, above market expectations for an increase of 9.4%.
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Speaking of performance, CEO Rodney McMullen said, “Kroger continued to grow its market share during the quarter. Our ability to meet the evolving needs of our customers is testament to our strong competitive advantages, aggressive investment in our increasingly robust digital capabilities, and continued interest of our employees in customers By the quarter Fourth, at the end of fiscal 2020, we delivered new sales growth and strong sales, as we are listed on the stock exchange and there is a growing demand for fresh and convenient food and meal solutions on all ways, including delivery and home delivery.
Looking ahead, Kroger expects adjusted earnings per share for fiscal year 2021 to be between $ 2.75 and $ 2.95, higher than the analyst average estimate of $ 2.69.