The Kroger Co. (KR) said, for fiscal 2025, the company is raising identical sales without fuel guidance to a new range of 2.7% to 3.4%. The company is also raising the lower end of adjusted FIFO net operating profit and net earnings per share guidance, to new ranges of $4.8 to $4.9 billion and $4.70 to $4.80, respectively. Previously, the company projected earnings in a range of $4.60 to $4.80 per share.
The company's second quarter earnings came in at $609 million, or $0.91 per share compared with $466 million, or $0.64 per share, last year. Excluding items, Kroger reported adjusted earnings of $695 million or $1.04 per share for the period.
Sales rose 0.1% to $33.94 billion from $33.91 billion last year. Excluding fuel and Kroger Specialty Pharmacy, sales increased 3.8%. Identical Sales without fuel increased 3.4%.
CFO David Kennerley said: "Kroger's second quarter results reflect continued momentum in our business. Sales growth has been strong, led by pharmacy, eCommerce and Fresh, and we are encouraged by the improvement in grocery volumes."
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