Kroger
Hide Caption

Kroger 2Q profit rises, helped by lower charges

a a a a
Share this story

CINCINNATI (AP) -- Kroger is reporting its fiscal second-quarter net income climbed 14 percent, helped by lower charges as revenue increased.

The country's largest traditional supermarket operator is also lifting the low end of its fiscal 2013 outlook for a key revenue metric.

Shares are up in Thursday premarket trading.

Kroger Co., which owns Ralphs, its namesake stores and others, earned $317 million, or 60 cents per share, for the quarter, compared with $279 million, or 51 cents per share, last year.

Revenue rose 5 percent to $22.72 billion.

Analysts expected earnings of 59 cents per share on revenue of $22.69 billion.

Kroger now expects fiscal 2013 revenue at supermarkets open at least a year to increase 3 to 3.5 percent, excluding fuel. Prior guidance was for a 2.5 to 3.5 percent rise.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Print this article

Comments

Hmm... It looks like you’re not a WCPO Insider. or Subscribe now to contribute!

Market Summary
The Dow Jones Industrial Average SM is proprietary to and is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC and have been licensed for use. "Dow Jones(r)", "Dow Jones Indexes" and "Dow Jones Industrial Average SM" are service marks of Dow Jones Trademark Holdings, LLC. "CME" is a trademark of Chicago Mercantile Exchange Inc. All content of the Dow Jones Industrial Average (c) CME Group Index Services LLC 2010.