Kroger will report its second-quarter results this Friday before market hours, with the market expecting revenue to grow 2% year on year, improving from flat revenue in the same quarter last year. Last quarter, the grocery retail giant reported revenues of $46.12 billion, up 2.2% year on year, beating analysts' revenue expectations, though it missed analysts' gross margin estimates while full-year EPS guidance slightly topped expectations. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Among peers in the non-discretionary retail segment, Grocery Outlet delivered year-on-year revenue growth of 1.1%, beating analysts' expectations by 2.1%, and Sprouts reported revenues up 4.7%, in line with consensus estimates. Kroger's stock price was unchanged over the last month, while the broader non-discretionary retail group fell 8.1% on average, and the stock heads into earnings with an average analyst price target of $69.77 compared to the current share price of $56.65.
Kroger CompanyKroger is the subject; it will report Q2 results Friday with revenue growth expected, a pending earnings event.
Grocery Outlet Holding Corp
Sprouts Farmers Market LLC