Kroger raises full-year adjusted earnings guidance

Kroger Co.

reported second-quarter net income totaling $467 million, or 61 cents per share, down from $819 million, or $1.03 per share last year. Adjusted EPS of 80 cents beat the FactSet consensus for 64 cents. Sales of $31.68 billion were up from $30.49 billion last year and also ahead of the FactSet consensus for $30.64 billion. Digital sales more than doubled, up 114%. Identical sales excluding fuel fell 0.6%, ahead of the FactSet consensus for a 3.2% decline. On a two-year stack, identical sales were up 14%. Kroger raised its full-year adjusted EPS guidance to $3.25 to $3.35, up from previous guidance of $2.95 to $3.10. The FactSet consensus is for EPS of $3.09. Kroger shares fell 1.4% in Friday premarket trading, but have gained 45.3% for the year to date. The S&P 500 index

has run up 19.6% for 2021 so far.

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