Kroger's Q2 earnings beat estimates with 93 cents EPS, driven by 11% digital sales growth and 1.2% identical sales rise.
Kroger reported strong second-quarter results, with adjusted earnings per share of 93 cents, surpassing estimates. Sales were nearly flat at $33.91 billion, but identical sales, excluding fuel, rose 1.2%. Digital sales grew by 11%, bolstered by an increase in e-commerce households. CEO Rodney McMullen credited the performance to affordable pricing and promotions. Kroger reaffirmed its fiscal year 2024 EPS outlook, projecting $4.30 to $4.50, as shares rose by 1.20% premarket.
September 12, 2024
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