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Kroger posts better-than-expected third quarter earnings; says had best ever ‘Black Friday’

The NYSE listed company saw its net income rise to US$397mln, or 44 US cents a share for the quarter, up from US$391mln, or 41 US cents a year earlier

Black Friday
Kroger’s third quarter sales rose to US$27.749bn, up from US$26.557bn last year, above consensus of US$27.484bn,

Kroger Co. (NYSE:KR) saw its shares jump 10% in premarket trading after the supermarket chain posted better-than-expected third quarter earnings and revealed it had its best ever ‘Black Friday’.

The NYSE listed company saw its net income rise to US$397mln, or 44 US cents a share for the quarter, up from US$391mln, or 41 US cents a year earlier, beating the consensus EPS estimate for 40 US cents.

Kroger’s third quarter sales rose to US$27.749bn, up from US$26.557bn last year, also above consensus of US$27.484bn, while same-store sales rose by 1.1%, better than forecasts for 0.9%.

The firm’s chief executive Rodney McMullen said the company had its best ever Black Friday, led by record sales at Fred Meyer.

The company maintained its guidance for full year EPS of US$1.74 to US$1.79 and adjusted EPS of US$2.00 to US$2.05.

In premarket New York trading, Kroger shares were up 10% to US$26.89.

Quick facts: The Kroger Co

Price: 33 USD

NYSE:KR
Market: NYSE
Market Cap: $25.55 billion
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