KR - Kroger Company Shares Take Off After Q1 - Here's Why | Benzinga
Kroger Company (NYSE:KR) shares are trading higher after the company reported first-quarter earnings results, recording adjusted FIFO operating profit of $1.499 billion.
Quarterly sales totaled $45.3 billion, compared to $45.2 billion a year ago. Sales beat the street view of $45.04 billion.
Kroger said it grew digital sales by more than 8%, with Delivery and Pickup combining for double-digit growth. For the first quarter, the gross margin was 22.4% of sales.
The FIFO gross margin rate, excluding fuel, decreased seven basis points year over year, owing to lower pharmacy margins and increased price investments.
The LIFO charge, an ...