The Kroger Co. is raising its fiscal year guidance after a generally strong second quarter of fiscal 2022.
The grocery giant reported total company sales of $34.6 billion, up 9% from $31.7 billion in the prior year period and $200 million more than Wall Street analysts had predicted. Adjusted earnings per share (EPS) totaled $0.90, up 10 cents per share from adjusted EPS of $0.80 in the second quarter of fiscal 2021 and seven cents per share higher than analyst forecasts.
Excluding fuel, same-store sales increased 5.2% compared to the same period in 2021. Digital sales grew 8%. Based on these results, Kroger is raising its full-year guidance. The grocer now expects identical sales without fuel to be in the range of 4.0% to 4.5% and adjusted net earnings per diluted share in the range of $3.95 to $4.05.
Source: Chain Store Age
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 