Thursday, December 18th-0.1°C
24562

Kroger 1Q results beat analysts' expectations; lifts fiscal 2014 adjusted profit forecast

CINCINNATI - Kroger saw a 4 per cent jump in first-quarter profit and the nation's biggest supermarket raised its earnings forecast for the year.

Shares rose more than 5 per cent in morning trading Thursday to an all-time high.

The Cincinnati company — which also runs Ralphs, Fry's and other chains — earned $501 million, or 98 cents per share, for the quarter. That compares with $481 million, or 92 cents per share, a year ago.

Removing non-recurring charges, The Kroger Co. earned $1.09 per share, four cents better than analysts polled by FactSet had been projecting.

Revenue jumped 10 per cent to $32.96 billion, which also edged out expectations due in part due to a new acquisition, the grocer and pharmacy Harris Teeter.

Sales at established locations climbed 4.6 per cent, excluding fuel. Those comparable-stores sales can be a key indicator of a retailer's health because it excludes volatility from locations recently opened or closed.

Kroger now foresees fiscal 2014 adjusted earnings between $3.19 and $3.27 per share. Previously it predicted $3.14 to $3.25 per share.

The company also increased its full-year guidance for sales at established locations, excluding fuel. It now anticipates 3 per cent to 4 per cent growth. Its prior outlook was for a 2.5 per cent to 3.5 per cent increase.

Shares reached $50.20 in early trading, which is a new high.

The Canadian Press


Read more Business News

24200


Recent Trending




Today's Market
S&P TSX14213.88+352.36
S&P CDNX659.00+16.65
DJIA17356.87288.00
Nasdaq4644.312+96.477
S&P 5002012.89+40.15
CDN Dollar0.8615+0.0027
Gold1198.50+4.20
Oil56.44-0.03
Lumber337.20+3.00
Natural Gas3.684-0.018

 
Okanagan Companies
Pacific Safety0.125+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.27+0.04
Cantex0.03-0.005
Anavex Life Sciences0.1659-0.0241
Metalex Ventures0.05-0.005
Russel Metals27.18+1.03
Copper Mountain Mining1.54+0.11
Colorado Resources0.105-0.005
ReliaBrand Inc0.0199+0.0065
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.22+0.02

 
24130


21297

FEATURED Property
1337928305-1229 Bernard Ave.
2 bedrooms 2 baths
$188,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...


Housing prices to skyrocket?

As most of you know, this column was started with a focus on Okanagan real estate. Over time, more and more columnists started covering the real estate sphere and so it morphed in to a personal colum...

_



24386




Member of BC Press Council