Tuesday, March 10, 2009

Kroger Sales Jump (Again)

The number one U.S. Supermarket retailer, Kroger has again seen their shares jump amid the volatile recessionary climate sweeping the nation. Today, Reuter's reports that Kroger said net income rose to $349.2 million, or 53 cents per share, in the fourth quarter, from $322.9 million, or 48 cents per share, a year earlier.

For the current year, Kroger expects identical supermarket sales, excluding fuel, to grow 3 percent to 4 percent. On that basis, it had earlier forecast a sales growth of 3 percent to 5 percent.

The company said its forecast reflected an expected 1 percent to 2 percent product cost inflation, compared to its earlier expectation of 2 percent to 3 percent.

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