Kroger's fiscal 1Q success pays dividends

Jun 23, 2006 8:48 AM, from staff and wire reports

The Kroger Co reported total sales increased 8.2% to $19.4 billion for the fiscal first quarter ended May 20, 2006. Identical supermarket sales rose 7.2% with fuel and 5.6% without fuel. This represents Kroger’s 11th consecutive quarter of positive identical supermarket sales, excluding fuel.

Net earnings in the first quarter totaled $306.4 million. The Cincinnati OH-based supermarket chain's net earnings in the year-ago period were $294.3 million.

“Our associates’ commitment to our Customer 1st strategy enabled Kroger to pay—for the first time in 18 years—a quarterly cash dividend to shareholders,” said David B Dillon, Kroger chairman and chief executive officer.

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