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Last Update: 09-Sep-11 10:18 ET
Kroger Tops Second Quarter Estimates
Kroger (KR $21.77 -1.58) reported second quarter earnings of $0.46 per share, $0.03 better than the Capital IQ consensus of $0.43.
Revenues rose 11.5% year/year to $20.91 billion versus the $20.53 billion consensus, with comps ex fuel of +5.3%. Second quarter operating margin was 2.33% of sales. Excluding fuel, on a rolling four quarters basis, the company's operating margin increased by 10 basis points.
The company reaffirmed guidance for fiscal year 2012 with EPS of $1.85-1.95
versus the $1.97 consensus. Kroger increased its identical supermarket sales
guidance for fiscal 2011. The co now expects identical supermarket sales growth,
excluding fuel, of 4% to 5% for the year. The previous guidance range was 3.5%
to 4.5%.
