Kroger 3Q profit in line; maintains outlook - 13 WTHR Indianapolis

Kroger 3Q profit in line; maintains outlook

Updated:
CINCINNATI -

Kroger's net income fell nearly 6 percent during the third quarter, partly on the costs from the pending acquisition of Harris Teeter.
 
The nation's largest traditional supermarket operator reported net income of $299 million, or 57 cents per share. That compares with net income of $317 million, or 60 cents per share a year ago. Excluding one-time items, net income totaled 53 cents per share, matching expectations, compared with 46 cents per share last year.
 
Revenue rose 3 percent to $22.51 billion from $21.81 billion. Analysts expected $22.72 billion.
 
Kroger Co., which owns also Ralphs, Fry's and other chains, said sales rose 3.5 percent at stores open at least a year.
 
The company stuck to its per-share earnings expectations of $2.73 to $2.80 for the year.

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