Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT