Kroger beats sales estimates with higher demand for fresh, cheaper groceries

From Investing.com: 2024-12-05 09:36:45

Kroger exceeded third-quarter same-store sales expectations, driven by increased customer traffic for lower priced groceries in-store and online. The U.S. grocer is investing in e-commerce to compete with Walmart and Amazon. Kroger’s identical sales rose 2.3%, beating analysts’ estimates. Shares slipped as annual forecasts were narrowed due to the sale of its specialty pharmacy unit. Kroger expects growth in sales and adjusted earnings per share for fiscal 2024. CEO Rodney McMullen remains confident in closing the $25 billion merger with Albertsons despite regulatory challenges.



Read more at Investing.com: Kroger tops sales estimates on higher demand for fresh, cheaper groceries By Reuters