US supermarket group Kroger has indicated that identical store sales accelerated in the third quarter thanks to its focus on value.
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Ahead of its investor conference today (15 October), the company said that through the first eight weeks of its third quarter, which began 17 August, identical supermarket sales growth was above 5% excluding fuel.
Sales in the second four weeks of the quarter were strongest, Kroger added.
“Kroger continues to see solid identical sales growth through the first eight weeks of the third quarter,” said David Dillon, Kroger chairman and chief executive officer. “In this uncertain economy, we are delivering value to shoppers on any budget through our Customer 1st approach.”
Dillon emphasised that Kroger has sufficient liquidity to finance its short-term borrowing needs through its US$2.5bn five-year credit facility that matures in November 2011.
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By GlobalData
