Kroger Sales Beat as Same-Store Growth Hits 1%

Earnings

โดย GuruFocus·Read original

Summary · why it matters

Kroger reported stronger-than-expected quarterly sales, with same-store sales excluding fuel rising 1%, slightly above Wall Street expectations of 0.96%. New CEO Greg Foran, who took over in February, is implementing the company's biggest price cuts in years to sharpen its competitive position against Walmart, Costco, and Amazon.com. Kroger maintained its full-year guidance, though quarterly profit was squeezed by higher transportation costs, planned price reductions, and lower egg prices. With consumers shifting toward cheaper store brands and sale items, and inflation accelerating in May amid higher gas prices tied to the Iran War, Kroger's push into broader price cuts and faster, friendlier service could become increasingly important.