Kroger's fiscal 1Q success pays dividends
Jul 1, 2006 12:00 PM
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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