Kroger tops 4Q profit forecasts
CINCINNATI (AP) — Kroger Co. (KR) on Thursday reported fiscal fourth-quarter profit of $559 million.
On a per-share basis, the Cincinnati-based company said it had profit of 57 cents.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The supermarket chain posted revenue of $26.17 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $26.19 billion.
Kroger expects full-year earnings to be $2.19 to $2.28 per share.
Kroger shares have dropped roughly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has declined almost 3 percent. The stock has climbed 15 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at http://www.zacks.com/ap/KR
Keywords: Kroger, Earnings Report