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Kroger Expects To Exceed FY20 Guidance For Adj. Earnings, Same-store Sales

While reporting its financial results for the first quarter on Thursday, Kroger Co. (KR) said it is not reaffirming or providing new guidance for fiscal 2020 due to the difficulty in predicting specific outcomes amid the coronavirus pandemic.

However, Kroger added that while it expects to exceed the outlook shared in its April 1 business update for identical sales without fuel, adjusted FIFO operating profit, adjusted earnings per share and adjusted free cash flow, the company is unable to forecast the extent of such upside.

In April, Kroger had projected fiscal 2020 adjusted earnings in a range of $2.30 to $2.40 per share and adjusted identical sales growth of greater than 2.25 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.68 per share for the year. Analysts' estimates typically exclude special items.

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