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“Kroger hikes forecast after stronger grocery sales top estimates”

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

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