US retailer Kroger said it delivered an “outstanding” year after booking an increase in full-year profits.
In the 12 months ended 28 January, earnings totalled US$1.5bn compared to $602.1m last year, the grocer reported today (7 March). Kroger recorded a LIFO charge of around $55m in 2012 versus a charge of $216m in the previous year.
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Kroger said it exceeded the high end of its fiscal 2012 earnings per diluted share guidance by $0.07.
Operating profit in the period more than doubled to reach $2.76bn from $1.28bn last year. Net sales were up 7.1% to $96.8bn, while identical-store sales climbed 3.5%. After adjusting for the extra week in fiscal 2012, sales grew 4.9%.
Kroger said it expects fiscal 2013 EPS in the range of $2.71 to $2.79 and identical supermarket sales growth, excluding fuel, of around 2.5% to 3.5%.
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