Kroger Grows In Q1

Kroger grew both net earnings and sales in its first quarter, as the retailer continues to expand its online ordering services to more markets. 

In the first quarter, Kroger generated company earnings of $680 million, or 70 cents per diluted share, versus $619 million, or 62 cents per diluted share, in the year prior period. Identical store sales, excluding the effect of gasoline price fluctuations, increased by 2.4%.

Kroger earnings per diluted share beat a MarketBeat analyst average estimate by a penny.

Net sales were $34.6 billion versus $33.05 billion in the quarter a year prior. Although total sales increased 4.7% to $34.6 billion in the first quarter, sales excluding fuel increased 7.8% versus the period last year, while sales excluding fuel and the results from the recently-acquired Roundy's supermarket chain increased 3.5%. Operating profit was $1.2 billion versus $1.1 billion in the quarter a year earlier.

"We are very pleased with a solid quarter during which we continued to strengthen our connection with customers and expand our ClickList offering to more customers in more markets," said Kroger chairman and CEO Rodney McMullen.

ClickList, along with the company's ExpressLane capability, are online ordering services. Kroger and its subsidiaries are expanding ClickList across a store base that includes 2,778 retail food stores in the U.S.