Reported 10 months ago
Kroger beat first-quarter estimates but remains cautious about consumer spending, reiterating its full-year forecasts for same-store sales and profit despite an anticipated decline in second-quarter earnings. The supermarket chain saw a 5.3% drop in adjusted profit but exceeded expectations. Kroger continues to focus on attracting budget-conscious shoppers by offering promotions, lowering prices, and expanding its online and private-label offerings, although challenges persist with wage expenses and supply chain costs. Despite struggles for growth, the company is standing by its merger with Albertsons amid antitrust scrutiny.
Source: YAHOO