The Kroger Co. has reported net earnings were $1.5 billion, or $2.77 per diluted share, for the 2012 fiscal year versus $602.1 million, or $1.01 per diluted share, in the year earlier. Net earnings for fiscal year included 24 cents per diluted share in extraordinary charges, the company said in a statement.
Kroger went on to state that fiscal 2012 total sales increased to $96.8 billion, or by 7.1%, versus the prior fiscal year. After adjusting for the extra week in fiscal 2012, total sales increased to $94.8 billion, or 4.9%, compared with the fiscal year earlier. With fuel excluded, total sales increased 6% over the same period last year, and, further adjusting for the extra week, they increased 4%. Identical sales growth, without the impact of fuel, came in at 3.5%.
For the fourth quarter, net earnings were $461.5 million, or 88 cents per diluted share, for the 2012 fiscal year versus a loss of $306.9 million, or 54 cents per diluted share, in the year earlier. The fourth quarter and full fiscal year earnings per share results include an 11 cents per diluted share benefit from a 53rd week.
Excluding the benefit, Kroger earnings per share came in at 77 cents, topping a published Thomson Reuters average analyst estimates of 70 cents.
Fourth quarter sales were $24.2 billion versus $21.4 billion in the year prior period. Identical supermarket sales growth, without fuel, was 3% in the fourth quarter.