UPDATE 1-Kroger's quarterly sales, profit miss as competition hurts [Reuters]
Kroger Company (The) (KR)
Last kroger company (the) earnings: 3/5 08:30 am
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Source: Reuters
Kroger's quarterly sales, profit miss as competition hurts (Reuters) - U.S. supermarket chain Kroger Co ( KR.N ) missed Wall Street estimates for quarterly sales and profit on Thursday, hurt by stiff competition from industry stalwarts including Walmart Inc ( WMT.N ) and Amazon.com Inc ( AMZN.O ). Kroger also said it divested its interest in Lucky’s Market, a specialty grocery store chain, and took a related non-cash impairment charge of $238 million in the third quarter. The grocer made an investment in Lucky’s Market in 2016 to venture into the natural, organic and locally grown space, a growing market. The company has been investing heavily as part of its ‘Restock Kroger’ transformation program to grow online sales, improve delivery and modernize stores to gain market share. Still, Kroger’s digital sales for the quarter rose only 21%, compared with the 31% increase in the second quarter. Net sales rose 0.5% to $27.97 billion, lower than analysts’ estimate of $28.18 billion, a
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KR
Earnings
- 3/7/24 - Beat
KR
Sec Filings
- 4/25/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- KR's page on the SEC website