US grocer Kroger has reported earnings of US$0.34 per diluted share, before one-time items, for the third quarter ended 9 November 2002.
Go deeper with GlobalData
On this basis, and adjusting prior-year results to eliminate goodwill amortisation, earnings per diluted share for the third quarter of 2002 were equal to the year-ago period. Net earnings for the third quarter of 2002 were $263.0m, a decrease of 6.6% from a year ago.
Total sales for the third quarter of fiscal 2002 increased 2.8% to $11.7bn. Total food-store sales rose 2.7%. Identical food-store sales, including fuel, decreased 0.6%. Identical food-store sales, excluding fuel, declined 1.3%. Comparable food-store sales, which include relocations and expansions, rose 0.2% for the quarter. Comparable food-store sales excluding fuel declined 0.6%.
EBITDA (earnings before interest, taxes, depreciation, amortisation, LIFO, extraordinary and one-time items) for the third quarter of 2002 totalled $803.8m, a decrease of 3.7% from a year ago.
Joseph A. Pichler, company chairman and CEO, said that consumers remained cautious in their spending and that the combination of a weak economy, rising unemployment, product cost deflation and continued aggressive competition had created a difficult operating environment.
Pichler’s outlook for the coming year was not particularly encouraging: “It is not clear when consumer confidence will improve. In addition, we anticipate that health care and pension costs will increase substantially in 2003.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
