Kroger Raises Guidance After Second-quarter Results Beat Earnings Estimates

By Tonya GarciaMarketWatch Pulse

The Kroger Co. reported second quarter net earnings of $433 million, or $0.44 per share, compared with $347 million, or $0.35 per share, the year before. The FactSet consensus estimate was $0.39. Same-store sales, excluding fuel revenue, rose 5.3%. "Our core food business continued its strong performance and we benefitted from fuel margins that expanded throughout the quarter," said CEO Rodney McMullen in a statement. Total sales rose 0.9% to $25.5 billion from $25.3 billion the year before, in line with the FactSet consensus estimate of $25.5 billion. Kroger raised its earnings guidance for fiscal 2015 to between $1.92 and $1.98 per share from $1.90 to $1.95. Kroger stock is up 10.3% for the year so far, ahead of the S&P 500's 5.2% rise.

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