Kroger's second-quarter profits miss Wall Street expectations

Posted: 8:24 AM, Sep 08, 2017
Updated: 2017-09-08 12:24:18Z

CINCINNATI -- Kroger Co. on Friday reported fiscal second-quarter net income of $353 million.

On a per-share basis, the Cincinnati-based company said it had profit of 39 cents.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The supermarket chain posted revenue of $27.6 billion in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $27.38 billion.

Kroger expects full-year earnings in the range of $2 to $2.05 per share.

Kroger shares have fallen 34 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 10 percent. The stock has dropped 27 percent in the last 12 months.