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VOL. 36 | NO. 36 | Friday, September 7, 2012
Kroger 2Q profit dips but tops Street view
CINCINNATI (AP) — Kroger's fiscal second-quarter net income dipped, pressured by a higher tax rate. But its earnings beat Wall Street's view and the supermarket chain raised its fiscal 2012 earnings outlook.
Its stock rose nearly 2 percent in premarket trading Friday.
The Cincinnati company earned $279.1 million, or 51 cents per share. That's down from $280.8 million, or 46 cents per share, a year ago. It had fewer outstanding shares in the current quarter.
Revenue, including fuel, climbed 4 percent to $21.73 billion.
Analysts expected earnings of 49 cents per share on revenue of $21.89 billion.
Kroger Co. now anticipates fiscal 2012 earnings of $2.35 to $2.42 per share, up from $2.33 to $2.40 per share.
Analysts predict $2.38 per share.