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.Chain Store Age