Kroger misses 3Q profit forecasts


CINCINNATI (AP) — Kroger Co. (KR) on Thursday reported fiscal third-quarter profit of $391 million.

On a per-share basis, the Cincinnati-based company said it had profit of 41 cents.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The supermarket chain posted revenue of $26.56 billion in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $26.25 billion.

Kroger expects full-year earnings in the range of $2.10 to $2.15 per share.

Kroger shares have fallen 23 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 8 percent. The stock has fallen 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at https://www.zacks.com/ap/KR

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Keywords: Kroger, Earnings Report

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