The Kroger Company has reported on its results for the opening quarter of fiscal 2013, revealing year-on-year improvements in both sales and earnings.
According to the company, it achieved its 38th consecutive quarter of positive identical supermarket sales, noting growth without fuel of 3.3 per cent.
Total sales increased 3.4 per cent to US$30bn, up from US$29.1bn in the same period of 2012, while sales excluding fuel climbed 3.8 per cent.
Net earnings, meanwhile, totaled US$481m, compared with earnings of US$439m last year.
'Kroger achieved strong sales and record earnings per share for the quarter, and our customers' positive view of us continues to improve,' said David Dillon, Kroger's chairman and chief executive officer. 'This is because of our continued focus on the Customer 1st strategy. Our first quarter results give us the confidence to raise our guidance for the year.'
Based on the quarterly results, Kroger lifted its net earnings guidance to a range of US$2.73-US$2.80 per diluted share, up from the original guidance of US$2.71-US$2.79.
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