Tuesday’s earnings report by Cincinnati-based Kroger Co., the nation’s largest traditional grocery chain, at a glance:
THE QUARTER: Net income for the fourth quarter rose 8 percent to $349.2 million, or 53 cents per share, from $322.9 million, or 48 cents per share, the previous year. Total sales were $17.26 billion, just up from $17.23 billion last year. Analysts polled by Thomson Reuters expected earnings of 51 cents per share, on revenue of $18.3 billion.
THE YEAR: For the fiscal year ended Jan. 31, Kroger said profit rose 6 percent, from $1.18 billion, or $1.69 per share, to $1.25 billion, or $1.90 per share. Total sales rose 8 percent to $76 billion for the year.
OUTLOOK: Kroger forecast full-year earnings of $2 to $2.05 per share, below analysts’ projections of $2.06. The company expects identical supermarket sales growth, excluding fuel, of 3 percent to 4 percent, tightened from its earlier forecast of 3 percent to 5 percent.
