Kroger registers results
for fiscal second quarter
Sep 19, 2009 2:14 PM
The Kroger Company reported total sales, including fuel, in the fiscal 2009 second quarter ended August 15, 2009, were $17.7 billion versus $18.1 billion for the same period a year ago. Excluding fuel sales, total sales rose 3.5% over the prior year.
Net earnings totaled $254.4 million for the fiscal second quarter, compared with net earnings of $276.5 million in the same period a year earlier.
During the second quarter, the Cincinnati OH-based supermarket chain repurchased 2.8 million shares of stock at an average price of $21.58 per share for a total investment of $60.1 million. At the end of the quarter, $424.9 million remained under the $1 billion stock repurchase program announced in January 2008.
For the first two quarters of fiscal 2009, total sales were $40.5 billion compared with $41.2 billion for the same period last year. Excluding fuel sales, total sales increased 3.7% over the prior year. For the same period, identical supermarket sales, excluding fuel, rose 2.9%.
Net earnings for the first two quarters of fiscal 2009 were $689.5 million. For the same period a year ago, net earnings were $662.5 million.
Kroger confirmed its expectations for full-year identical supermarket sales growth of 3% to 4%, without fuel, for fiscal 2009. This guidance assumes product costs for the remainder of fiscal 2009 are consistent with or slightly lower than in the second half of fiscal 2008. The firm now expects full-year fiscal 2009 earnings of $1.90 to $2.00 per diluted share.
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