UPDATE 5-Kroger results hit by grocery price war, shares slide [Reuters]
Kroger Company (The) (KR)
Last kroger company (the) earnings: 3/5 08:30 am
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Source: Reuters
Kroger results hit by grocery price war, shares slide | Reuters 3 Min Read (Reuters) - Kroger Co ( KR.N ) on Friday reported lower quarterly profit after an intensifying grocery price war hit its bottom line, and warned that same-store sales and operating margins would be lower than expected for the remainder of the year. Kroger is the biggest U.S. supermarket owner with brands such as Ralphs, Harris Teeter and Food 4 Less. Shares in the company, which have skidded 38 percent so far this year, tumbled nearly 10 percent to $20.55, a 3-1/2 year low, in midday trading. The disappointing report came as Kroger, which operates nearly 2,800 U.S. food stores, cut prices to fend off competition from chief rival Wal-Mart Stores Inc ( WMT.N ), discounters Lidl and Aldi and the newly merged Amazon.com ( AMZN.O ) and Whole Foods Market. Kroger’s net income fell 7.8 percent to $353 million, or 39 cents per share, for the second quarter that ended Aug. 12. Closely watched sales at stores open
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News
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- Kroger settles opioid lawsuit with Washington AG for $47.5M [Seeking Alpha]Seeking Alpha
- Albertsons Companies: As Merger Woes Mount, Things Get Interesting [Seeking Alpha]Seeking Alpha
- Kroger (KR), Albertsons Revamp Divestiture Package Amid Concerns [Yahoo! Finance]Yahoo! Finance
KR
Earnings
- 3/7/24 - Beat
KR
Sec Filings
- 4/22/24 - Form 8-K
- 4/2/24 - Form 10-K
- 4/1/24 - Form 4
- KR's page on the SEC website