Last updated on June 14th, 2024 at 10:09 am
The Kroger Co. on Friday reported record results for its fiscal 2015 second quarter, marking the company’s 47th quarter of positive identical supermarket sales growth, excluding fuel. ID sales were up 5.3 percent, without fuel. The Cincinnati-based grocer’s net earnings were $433 million, or $0.44 per diluted share. Net earnings in the same period last year were $347 million, or $0.35 per diluted share.
“We are pleased with our second quarter performance,” said Kroger Chairman and CEO Rodney McMullen. “Our core food business continued its strong performance and we benefitted from fuel margins that expanded throughout the quarter. Our team of associates continues to drive our Customer 1st strategy by taking care of our customers in big and small ways. We continue to earn customer loyalty and gain market share.We are investing to grow our business for the future while delivering on our promises today. For example, our stores are hiring to fill 20,000 new, permanent jobs and we are expanding our digital and e-commerce offerings. Our confidence in Kroger has never been stronger.”
Kroger has raised its net earnings per diluted share guidance to a range of $1.92 to $1.98 for fiscal 2015. The previous guidance was $1.90 to $1.95 per diluted share. This range exceeds the company’s long-term net earnings per diluted share growth rate guidance of 8 percent to 11 percent, plus a growing dividend.
Kroger has raised its identical supermarket sales growth guidance, excluding fuel, to a range of 4.0 percent to 5.0 percent for fiscal 2015. The previous guidance was 3.5 percent to 4.5 percent.
