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Kroger Gains, Beats Estimates In Q3 Thursday November 29th, 2012 - 12:54PM
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 For the third quarter ended November 3, supermarket operator and Fred Meyer parent The Kroger Co. reported net earnings of $316.5 million, or 60 cents per diluted share including a 14 cent per diluted share benefit from a settlement with Visa and MasterCard, and from a reduction in the company's obligation to a United Food and Commercial Workers Union pension fund. Identical store sales, without fuel, increased 3.2% in the third quarter. Adjusted net earnings of 46 cents per diluted share topped 33 cents per diluted share from net earnings of $195.9 million in last year’s period. Analysts surveyed by Thomson Reuters anticipated Kroger posting earnings of 43 cents per diluted share. Total sales, including fuel, advanced 5.9% to $21.8 billion in the third quarter. Operating profit came in at $594.8 million versus $404.4 million in the 2011 quarter. Consumers visited stores more frequently and purchased more on a monthly basis, buying more items per trip in the quarter, Rodney McMullen, Kroger president and COO, said in a conference call. Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials |
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Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.
