Kroger Raises Full-Year Forecast After Solid Second Quarter

Kroger is raising its forecast for the current fiscal year following a second quarter that saw sales grow nearly 4%.

For the quarter ending Aug. 16, total company sales were $33.9 billion, on par with second-quarter sales from the previous year. The 2024 results included $718 million from Kroger Specialty Pharmacy sales, which was sold by the grocer in 2024. When excluding fuel and Kroger Specialty Pharmacy, sales increased 3.8% over the comparable quarter of the previous year. Identical sales excluding fuel increased 3.4%.

Net earnings attributable to The Kroger Co. were $609 million, up from net earnings of $466 million in the comparable quarter of the previous year.

"Kroger delivered another quarter of strong results, which demonstrates the clear and measurable progress we've made on our priorities – to simplify our organization, to improve the customer experience, and to focus on work that creates the most value," said Ron Sargent, Kroger's chairman and CEO.

Officials with the grocer said positive results in the second quarter reflect continued growth in its business, led by pharmacy, e-commerce, and fresh.

As a result, Kroger is raising its identical sales without fuel guidance to a new range of 2.7% to 3.4%. Previous guidance called for growth of between 2.25% and 3.25%. The company is also raising its adjusted FIFO net operating profit and net earnings per diluted share guidance to new ranges of $4.8 billion to $4.9 billion (previously $4.7 billion to $4.9 billion) and $4.70 to $4.80 (previously $4.60 to $4.80), respectively.