Kroger 3rd-quarter profit matches Wall Street expectations; sticks to its outlook for the year

CINCINNATI – Kroger’s net income fell nearly 6 per cent during the third quarter, partly on the costs from the pending acquisition of Harris Teeter.

The nation’s largest traditional supermarket operator reported net income of $299 million, or 57 cents per share. That compares with net income of $317 million, or 60 cents per share a year ago. Excluding one-time items, net income totalled 53 cents per share, matching expectations, compared with 46 cents per share last year.

Revenue rose 3 per cent to $22.51 billion from $21.81 billion. Analysts expected $22.72 billion.

Kroger Co., which owns also Ralphs, Fry’s and other chains, said sales rose 3.5 per cent at stores open at least a year.

The company stuck to its per-share earnings expectations of $2.73 to $2.80 for the year.

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