Kroger's same-store sales miss estimates
Reuters
Published Sep 13, 2018 07:49AM ET
Kroger's same-store sales miss estimates
(Reuters) - Kroger (NYSE:KR) Co missed quarterly same-store sales estimates on Thursday, as disruptions caused by the supermarket chain changing the way it stocks merchandise on shelves kept some customers away from its stores.
Cincinnati-based Kroger said net income rose to $508 million, or 62 cents per share, in the second quarter ended Aug. 18, from $353 million, or 39 cents per share, a year earlier.
The company's same-store sales, excluding fuel, rose 1.6 percent in the quarter. Analysts on average had expected a 1.86 percent increase, according to Thomson Reuters I/B/E/S.
Total sales rose to $27.87 billion from $27.60 billion.
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Written By: Reuters
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