How Kroger Fared in Fiscal 2Q18
Kroger reports in-line 2Q earnings and better-than-expected revenue
Cincinnati-based Kroger (KR) reported financial results for 2Q18 on September 8, 2017. The results relate to the three-month period ending August 12, 2017. The company reported in-line earnings and delivered better-than-expected top-line numbers for the quarter.
Kroger’s earnings per share stood at $0.39, down 17% YoY (year-over-year). Total revenue improved 3.9% YoY to $27.6 billion, $110 million more than the average analyst estimates.
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The company reaffirmed its full-year EPS guidance. However, it suspended its long-term guidance, which pulled its stock price down by 7.5% on September 8. In this series, we’ll discuss the company’s recent financial results.
With trailing-12-month sales of $117 billion, Kroger is the largest supermarket chain in the US and one of the world’s largest grocery retailers, surpassed only by Walmart (WMT). The company operates 2,793 supermarket stores, 307 fine jewelry stores, and 783 convenience stores in 35 states and the District of Columbia.
Kroger has a market capitalization of $18.9 billion as of September 8, 2017. The company is a component of the S&P 500 Index (SPX) and the S&P 500 Food & Staples Retail Index. It constitutes 3.2% of the VanEck Retail ETF (RTH).
Read parts four and five of the series to learn about Kroger’s valuations, stock market performance, and recent analyst actions.