(Teleborsa) – Kroger, one of the largest supermarket chains in the United States, has registered sales total of $ 31.7 billion in the second quarter (ending August 14), compared to $ 30.5 billion in the same period last year. The company has earned 80 cents per share on an adjusted basis, beating the 64 cents expected by the market. The “same-store” sales (on a like-for-like basis), a key indicator for the retail sector, fell by 0.6% in the second quarter, also because last year there were more purchases of food and cleaning products.
“Kroger’s strong execution resulted in identical sales above our internal expectations for the second quarter, while we continued to cut costs,” CFO Gary Millerchip commented. “Driven by the momentum of our results and sustainable food trends. in the house, we stay raising our guidance for the full year.
Kroger now expects a profit adjusted annual between $ 3.25 and $ 3.35 per share, compared with its previous forecast of $ 2.95-3.10 per share. The company also expects a 1% to 1.5% decline in same-store sales adjusted for the full year, compared with an expected decline of 2.5% to 4% previously. Analysts expect a 2.9% decline, according to Refinitiv data.
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