“Kroger hikes forecast after stronger grocery sales top estimates”
December 1, 2022
“Kroger on Thursday raised its forecast for the year after stronger third-quarter sales topped Wall Street expectations and inflation continued to push up the prices shoppers pay for milk, eggs and other groceries…
Here’s what Kroger reported for the three-month period ended Nov. 5, compared with Refinitiv consensus estimates:
- Earnings per share: 88 cents adjusted vs. 82 cents expected
- Revenue: $34.2 billion vs. $33.96 billion expected
Grocery has been a strong driver of retail sales as inflation hovers near four-decade highs. As some shoppers skip over big-ticket items or pull back on discretionary purchases, retailers that sell food and necessities have attracted a steadier stream of customers…”
https://www.cnbc.com/2022/12/01/kroger-kr-earnings-q3-2022-.html