US grocery chain Kroger has reported on a weaker set of year-on-year results for the fourth quarter (Q4) of 2009, with the group's net result coming in at US$255.4m, or US$0.39 per share.
This was down 26.9 per cent from a net profit of US$349.2m, or US$0.53 per share, recorded during the year-earlier period.
The Cincinnati-based company, which operates stores under its own name as well as Ralphs, King Soopers, Fry's and Food 4 Less, said that sales through the quarter actually increased by 7.2 per cent (or 2 per cent excluding fuel) to US$18.55bn.
As a result, Kroger raised the upper limit of its full-year 2010 forecast to US$1.60-US$1.80 per share, from US$1.60-US$1.70 per share, while also warning that uncertainty about the economy and operating costs had caused it to remain cautious.
No comments yet