Copyright Reuters 2016

(Copyright Reuters 2016)

Kroger's net income falls 8.6 percent

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Kroger Co , the biggest U.S. supermarket chain, reported an 8.6 percent fall in quarterly profit, hurt by falling grocery prices.

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The company's shares fell 4 percent to $31 in premarket trading on Thursday.

Net income attributable to the company fell to $391 million, or 41 cents per share, in the third quarter ended Nov. 5 from $428 million, or 43 cents per share, a year earlier.

Kroger's net sales rose 5.9 percent to $26.56 billion.

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Anil D'Silva)