Thursday, March 8, 2018

Kroger shares plummet on disappointing profit outlook


Kroger on Thursday reported fourth-quarter earnings in-line with analysts' estimates but issued a disappointing profit outlook for 2018.

Revenue jumped 12.4 percent to $31 billion, slightly topping a forecast for $30.8 billion. The company reported sales of $27.6 billion during the year-earlier period.

Looking to fiscal 2018, Kroger is calling for earnings of $1.95 to $2.15 per share, largely below the $2.15 analysts were expecting.. . . more