Reported about 8 hours ago
Kroger (KR) shares surged by 9% after the company raised its full-year sales forecast and maintained its profit outlook despite a competitive landscape dominated by Walmart and Costco. In the first quarter, Kroger exceeded earnings expectations with adjusted EPS of $1.49 and reported a 3.2% increase in same-store sales. Although the grocery giant acknowledges a cautious consumer sentiment affected by macroeconomic uncertainties, it remains committed to strategies for market share growth, including the closure of around 60 stores in the next 18 months following a failed merger with Albertsons.
Source: YAHOO