Shares of The Kroger Co. (KR) are dropping around 6 percent on Thursday morning despite the company reporting higher earnings and revenue growth in the first quarter.
The company's share price is currently standing at $58.02 on the New York Stock Exchange, down 6.15 percent from its previous close of $61.82. Over the past year, the stock has touched a high of $76.58 and a low of $56.56.
The company reported a profit of $903 million, or $1.46 per share, compared to $866 million, or $1.29 per share, last year. Revenue for the quarter went up to $46.121 billion from $45.118 billion in the previous year.
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