The grocery chain reported a Q1 adjusted EPS of $1.45, which beat the consensus of $1.29. Identical Sales without fuel increased 4.1% in the quarter. Moreover, Fresh Department comparable sales increased 5.2%; meanwhile, Our Brands similar sales increased 6.3%. Total revenue was $44.6 billion in the quarter, versus the consensus of $43.68 billion and $41.3 billion last year. Excluding fuel, sales increased 3.8% compared to the previous year’s period.
CEO Rodney McMullen commented that Kroger achieved first-quarter solid results as they successfully executed their strategy of Leading with Fresh and Accelerating with Digital.
Looking ahead, Kroger sees FY2022 comparable sales without fuel in the range of 2.5% to 3.5%, versus its prior guidance of 2.0% to 3.0%. They see FY2022 EPS of $3.85-$3.95 versus the previous guidance of $3.75 to $3.85 and the consensus of $3.84.
McMullen added that their relentless focus on executing our strategy and sustained food-at-home trends led to a solid first quarter. The Kroger team is effectively navigating a dynamic retail environment. Their diverse and resilient business model gives them the confidence to raise full-year guidance.
Furthermore, McMullen added that the company remains confident in delivering sustainable earnings growth and total shareholder returns of 8-11% over time.
Key Points: AUD/JPY broke below a rising wedge, signalling possible bearish momentum, with immediate resistance at 103.00 and support at…
Key Points EUR/JPY Rises to 168.25: Strengthened by robust Eurozone economy and steady ECB policy. Eurozone GDP Grew by 0.3%…
Key Points: Nio's shares hit 44.20 HKD, up 20%, with electric vehicle deliveries up 134.6% year-on-year to 15,620. BYD leads…
Key Points: Ethereum fell sharply from $3,355 to a low of $2,813, reflecting high volatility and sensitivity to market dynamics.…
Key Points Nikkei 225 slightly fell by 0.1%, while the Hang Seng index surged by 2.4%. USD/JPY increased slightly, highlighting…
Key Points: Gold prices rose on MCX India to ₹71,278/10 gm and COMEX US to $2,328/oz. The US Dollar Index…
This website uses cookies.