Bulletin
Investor Alert

London Markets Open in:

Market Pulse Archives

Dec. 3, 2020, 8:16 a.m. EST

Kroger's stock falls after profit rises above expectations, but sales miss

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Kroger Co. (KR)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Kroger Co. /zigman2/quotes/206215053/composite KR -0.24% dropped 4.1% in premarket trading Thursday, after the supermarket chain reported a fiscal third-quarter profit that rose above expectations, but sales that came up short. For the quarter to Nov. 7, net income rose to $631 million, or 80 cents a share, from $263 million, or 32 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to 71 cents from 47 cents, beating the FactSet consensus of 67 cents. Sales rose 6.3% to $29.72 billion, but was below the FactSet consensus of $29.97 billion, while same-store sales growth of 10.9% missed expectations of a 9.3% rise. Kroger said it repurchased $304 million worth of its stock during the quarter. The company expects full-year adjusted EPS of $3.30 to $3.35, compared with the FactSet consensus of $3.30, and expects same-store sales to rise about 14.0%, compared with expectations of 12.5% growth. Kroger's stock has lost 10.6% over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.81% has gained 6.2%.

/zigman2/quotes/206215053/composite
US : U.S.: NYSE
$ 33.62
-0.08 -0.24%
Volume: 9.65M
Jan. 19, 2021 4:00p
P/E Ratio
8.87
Dividend Yield
2.14%
Market Cap
$25.66 billion
Rev. per Employee
$281,117
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,798.91
+30.66 +0.81%
Volume: 2.46B
Jan. 19, 2021 5:06p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.