Kroger is reporting strong sales results for its third quarter, which ended November 9. Company earnings have increased to $22.5 billion from $21.8 billion in the same period last year, a 3.2% increase. Total sales, excluding fuel, increased 4.7% in the third quarter over the same period last year, according to a press release. Net earnings for the third quarter totaled $229 million.
“Our quarterly results show once again that Kroger is uniquely positioned to grow and win in the U.S. food retail industry,” said David B. Dillon, Kroger’s chairman and CEO. “Our Customer 1st Strategy resulted in strong sales and earnings growth, lowered costs, and helped improve Kroger’s connection with our customers in the third quarter. Every one of our more than 343,000 associates deserves recognition for their individual work to achieve an unprecedented 40 consecutive quarters of positive identical supermarket sales. I know our entire team is hard at work to achieve the 41st.”
The company also increased ROIC while increasing capital investment, grew rolling four quarter FIFO operating profit margin, excluding fuel, and reconfirmed identical stores sales and net earnings per share guidance for the year.
Congrats Kroger, on your strong third quarter.
Kroger
