EmailKroger (KR $23.63 +0.68) reported first quarter earnings of $0.70 per
share, $0.06 better than the Capital IQ Consensus Estimate of $0.64.
Revenues rose 11.0% year/year to $27.46 billion versus the $26.66 billion
consensus; comps ex-fuel +4.6%.
The company raised its fiscal year 2012 earnings guidance to $1.85 to $1.95, up
from $1.80 to $1.92 versus the $1.90 Capital IQ Consensus Estimate.
Based on the current operating environment, the co expects to achieve results
near the top end of this range.
The increase reflects the strength of the co's first quarter results and the
higher estimated LIFO charge.
The company now expects identical supermarket sales growth, excluding fuel, of
3.5% to 4.5% for the year, up from 3-4% previously. FIFO gross margin was 21.42%
of sales for the first quarter of 2011. Excluding retail fuel operations, FIFO
gross margin decreased 4 bps from the same period last year. Supermarket selling
gross margin declined 7 bps without fuel from the same period last year.
than one year.
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