Kroger 4Q earnings at glance
Cincinnati-based Kroger Co. reported fourth quarter and annual earnings Tuesday:
THE QUARTER: Net income was $255.4 million, or 39 cents per share, down from $349.2 million or 53 cents, a year ago. Sales rose 7 percent to $18.6 billion. Analysts expected 34 cents per share on $17.73 billion. Sales at stores open at least 15 months, a key retail gauge, rose 1.2 percent excluding fuel.
THE YEAR: Total sales up nearly 1 percent, to $76.7 billion, with same-store sales up 2.1 percent for the year. Profits were $70 million, or 11 cents a share, hurt by a $1.05 billion charge to write down in the third quarter on the value of its Ralphs division because of the battered economy in California. In 2008, Kroger reported profit of $1.25 billion, or $1.89 per share.
LOOKING AHEAD: Kroger expects an earnings range this year of $1.60 to $1.80 per share with same-store sales growth of 2-3 percent without fuel. Analysts expect $1.80 per share, on sales of $78.6 billion.
WHO THEY ARE: Kroger has nearly 2,500 grocery stores in 31 states that include local banners such as Ralphs, Fred Meyer, Food 4 Less, Fry's, King Soopers, Smith's, Dillons, QFC and City Market.
Copyright 2010 AP News
