UPDATE 3-Kroger raises 2020 profit view despite slowing online sales growth [Reuters]
Kroger Company (The) (KR)
Last kroger company (the) earnings: 3/5 08:30 am
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Source: Reuters
Kroger raises 2020 profit view despite slowing online sales growth By Praveen Paramasivam 2 Min Read (Reuters) - Kroger Co raised its annual profit forecast on Thursday, although the U.S. supermarket chain missed expectations for quarterly sales as its coronavirus-driven online growth slowed due to an easing in restrictions in the second half of the year. Still, Kroger’s online sales more than doubled in the third quarter ended Nov. 7, but was lower than the 127% surge it recorded in the preceding quarter. “As you look to 2021, we expect, obviously, the digital growth won’t be as much as it was in 2020,” Chief Executive William McMullen told analysts. However, a spike in coronavirus cases has led to a pick up in sales in recent weeks, prompting the retailer to reimpose a purchase limit on certain essential products. “Bears rightly point out that recent growth rates are unsustainable,” Evercore analyst Michael Montani said. Kroger expects adjusted per-share profit of $3.30 to $3.35 in
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KR
Earnings
- 3/7/24 - Beat
KR
Sec Filings
- 4/2/24 - Form 10-K
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- KR's page on the SEC website