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09931 Re: Kroger reports a $1.7B profit, stock soars
   We have been going into grocery stores for most of our life and the on... 		joe-taylor   FFFT3   07 Mar 2015
 9:46 PM
09912 Re: Kroger reports a $1.7B profit, stock soars
   clo [b]McMullen also noted the company created nearly 25,000 jobs i... 		ribit   FFFT3   07 Mar 2015
 6:31 AM

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Kroger reports a $1.7B profit, stock soars

By: clo in FFFT3
Sat, 07 Mar 15 6:14 AM
Msg. 09911 of 65535
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Kroger reports a $1.7B profit, stock soars

Kroger reported a $1.7 billion profit for 2014 – a 13.8 percent increase from the previous year. 

Sales rose 10.3 percent to $108.5 billion – helped by last year's acquisition of the North Carolina-based Harris Teeter chain. Identical store sales excluding fuel – which exclude acquisitions, new or closed stores – rose 5.2 percent last year.

The solid results on Thursday propelled Kroger shares, which jumped as high as 7.6 percent to $74.97 – a new all-time high. The stock closed at $74.31, up 6.7 percent.

"2014 was an outstanding year by all measures. Kroger captured more share of the massive food market, delivered on our commitments and invested to grow our business," Kroger CEO Rodney McMullen said.

McMullen also noted the company created nearly 25,000 jobs in the last year. 

Kroger's $1.04 of earnings per diluted share for the fourth quarter and $3.49 for the fiscal year ended Jan. 31 beat Wall Street estimates. During the final three months of its year, Kroger earned $518 million on sales of $25.2 billion.

Wall Street analysts had forecast Kroger would post a nearly $1.7 billion profit – excluding one-time items – on sales of $108.5 billion. Analysts had also expected about a $443 million profit on $25.2 billion in the fourth quarter.

Kroger's stock has nearly doubled in value in the last year as the company has continued to grow market share even as rivals like Walmart struggle. Thursday's results mark the 45th straight quarter of identical stores growth – more than 11 years of increasing sales at stores open at least 15 months.

Kroger executives have credited their success to their Customer 1st strategy unveiled more than a dozen years ago to combat competition from nontraditional rivals like Walmart, but also drugstores and dollar stores that turned to cheap groceries to drive customer traffic.

Kroger's strategy has focused on competitive pricing, while also offering a wider variety of products, a faster, more enjoyable shopping experience and customer service. The company has tapped Downtown-based consumer insights firm dunnhumbyUSA to help it lure more customers.

Last year, Kroger reported a $1.5 billion profit on sales of $98.4 billion.

Looking ahead, Kroger said it expected this year's diluted earning per share to range from $3.80 to $3.90 – suggesting an annual profit of $1.8 billion to $1.9 billion.

Kroger expects its identical supermarket sales, excluding fuel, to grow between 3 percent to 4 percent.

The Cincinnati-based grocer currently employs almost 400,000 and runs 2,625 stores in 34 states and the District of Columbia. It is the nation's No. 1 supermarket company.

http://www.cincinnati.com/story/money/2015/03/05/kroger-reports-a-profit/24417665/


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