US retail giant Kroger has seen its same-store sales growth accelerate during the second quarter of its fiscal year.
Kroger today (14 September) booked a 2.7% rise in same-store sales for the three months to 14 August. In the first quarter of its fiscal year, same-store sales were up 2.4%.
Kroger’s total sales were up 6% at $18.8bn; excluding fuel, total sales grew 3.3%.
“Kroger’s sales have remained solid in the face of competitive and economic challenges because of the strong credibility we have with our shoppers. Our team understands the importance of finding ways to make each customer visit better than the last one, resulting in consistent positive identical supermarket sales growth,” said Kroger chairman and CEO David Dillon.
Kroger’s second-quarter net earnings stood at $261.6m, up from $254.4m a year earlier.
For the first half of Kroger’s fiscal year, total sales were $43.6bn compared with $40.5bn for the same period last year. Excluding fuel sales, total sales increased 3.2%. Identical supermarket sales, excluding fuel, increased 2.6%.
However, net earnings were $635.3m, or $0.98 per diluted share, against $689.5m, or $1.05 per diluted share, a year ago.
Shares in Kroger were up 2.8% at $21.64 at 10:17 ET this afternoon.
