
Kroger Co reported its third-quarter earnings, revealing a diluted earnings per share (EPS) of $0.84 and an adjusted diluted EPS of $0.98. The company generated revenue of $33.6 billion, with identical sales growth of 2.3% excluding fuel. Chairman and CEO Rodney McMullen highlighted strong sales performance driven by the pharmacy segment and noted that the company is adapting to changing consumer behaviors, particularly in Middle America, where spending has increased. While Kroger's sales growth faced challenges from lower fuel prices, the company indicated that many shoppers feel more positive about their financial situations. Additionally, Kroger's outlook on food inflation remains stable at around 1%, slightly below previous expectations, though the company anticipates potential increases next year. The grocery chain is also addressing wage pressures within its unionized workforce, focusing on maintaining affordable prices for consumers.
🇺🇸 Kroger’s sales growth dinged by lower fuel prices and more — but it says many shoppers ‘feel better’ https://t.co/tdDorImITg
Kroger views on food inflation outlook: stable this year at c1%, bit below where $KR thought. May tick up next year. But clearly, some staples (chiefly US food) feeling volume pressure & stepping up promos. $XLF $XLP $XLY $WMT $CPB $KHC $HSY $PEP $ACI https://t.co/gjW4tsrKM7
Fascinating from Kroger. Plenty has been said about strength at high end & weakness at low end. But here $KR talks about Middle America spending more & finally, also feeling better. $XLY $XLF $WMT $AMZN $V $MA https://t.co/mIQ0vNpuXO



