Kroger Reports Earnings of 41 Cents Per Share

Supermarket giant Kroger (KR) said earnings per share rose to 41 cents in the second quarter of fiscal 2010 from 39 cents a year earlier. Sales, including fuel, were $18.8 billion for the quarter, up 6% from a year earlier, the company said in a statement. Same-story supermarket sales, without fuel, rose 2.7%.

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"Kroger's sales have remained solid in the face of competitive and economic challenges because of the strong credibility we have with our shoppers," CEO David Dillon said.

The company affirmed its guidance for fiscal 2010. Kroger forecasts same-store supermarket sales, excluding fuel, to grow 2% to 3%. The company expects net earnings of $1.60 per share to $1.80 per share.

"As we move into the second half of the fiscal year, we are striving to achieve results in the top half of our earnings guidance range, even as the operating environment remains uncertain," Dillon said.
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