Kroger beats Street 2Q forecasts
CINCINNATI (AP) — Kroger Co. (KR) on Thursday reported earnings of $347 million in its fiscal second quarter.
On a per-share basis, the Cincinnati-based company said it had profit of 70 cents.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The supermarket chain posted revenue of $25.31 billion in the period, which also topped Street forecasts. Analysts expected $24.91 billion, according to Zacks.
Kroger expects full-year earnings in the range of $3.22 to $3.28 per share.
Kroger shares have increased 31 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 8 percent. The stock has climbed 38 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. A stock research report on KR from Zacks is available at: http://www.zacks.com/ap/KR