Kroger tops 2Q profit forecasts

Posted at 11:01 AM, Sep 11, 2015
and last updated 2015-09-11 11:01:22-04

CINCINNATI (AP) _ Kroger Co. (KR) on Friday reported fiscal second-quarter net income of $433 million.

The Cincinnati-based company said it had profit of 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The supermarket chain posted revenue of $25.54 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $25.59 billion.

Kroger expects full-year earnings to be $1.92 to $1.98 per share.

Kroger shares have climbed 10 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen 5 percent. The stock has increased 36 percent in the last 12 months.