Friday, June 17, 2016

Kroger profit rises 10%

The Kroger Co. topped Wall Street expectations with more than one result in the first quarter of fiscal 2016.

The grocery titan reported net earnings of $680 million, up 9.9% from $619 million the prior year period and ahead of Wall Street estimates. Reduced operating expenses helped Kroger produce solid profit growth despite a small decline in gross margin.

Total sales met expectations with 5% growth to $34.6 billion, from $33.1 billion. Same-store sales also beat Wall Street with a 2.4% increase excluding fuel.. . . more

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