Kroger Again Boosts FY22 Outlook - Update

While reporting financial results for the second quarter on Friday, supermarket chain Kroger Co. (KR) raised its adjusted earnings and identical sales outlook for the full-year 2022.

For fiscal 2022, the company now projects adjusted earnings in a range of $3.95 to $4.05 per share on total identical sales growth, without fuel, of 4.0 to 4.5 percent.

Previously, the company expected adjusted earnings in the range of $3.85 to $3.95 per share on total identical sales growth, without fuel, of 2.5 to 3.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.96 per share on revenues of $147.96 billion for the year. Analysts' estimates typically exclude special items.

Looking ahead, Chairman and CEO Rodney McMullen said, "We will continue to focus on providing affordable, fresh food to our customers, investing in wages and the associate experience, and creating zero hunger, zero waste communities because when we do those things well, we deliver attractive and sustainable shareholder returns."

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