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Kroger Co. Confirms Earnings Guidance - Quick Facts

The Kroger Co. (KR) reconfirmed its GAAP net earnings guidance range of $3.88 to $4.03 per diluted share for 2018. On an adjusted basis, the net earnings guidance range remains $2.00 to $2.15 per diluted share for 2018. The company provided identical sales guidance, excluding fuel, for the remainder of the year. Kroger expects second half results to be similar to first half results.

Kroger expects an annual digital sales run rate of just over $5 billion at year end 2018, growing to an annual run rate of $9 billion at year end 2019.

The Kroger Co. also reconfirmed its Restock Kroger financial commitments to generate $6.5 billion of Restock free cash flow and $400 million in incremental FIFO operating profit over the three-year-period ending in 2020. Kroger is also exceeding its year-one cost savings goals expected in Restock Kroger.

"We are committed to delivering shareholder value through Restock Kroger. We have a clear path to generate $400 million in incremental FIFO operating profit by 2020 supported by solid early execution of Restock Kroger, including process changes that led to sustainable cost controls," said Rodney McMullen, CEO.

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