The Kroger Co. (NYSE:KR) shares traded lower in Thursday’s premarket session after the grocery retailer reported mixed first-quarter results, with earnings narrowly missing Wall Street estimates despite stronger-than-expected revenue.
First-Quarter Results
Kroger reported adjusted earnings of $1.58 per share, missing the consensus estimate of $1.59. Revenue rose to $46.12 billion, topping analysts’ expectations of $45.47 billion.
Excluding fuel, identical sales increased 1.0% year over year. Sales excluding fuel and Vitacost increased 0.5% year over year.
Adjusted eCommerce sales climbed 19% from a year earlier. Profit from Kroger Precision Marketing increased by more than 20% year over year.
