Kroger 2012 Sales, Earnings Gain
Friday March 8th, 2013 - 1:13PM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
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.
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
After decades of following consumers to the suburbs, retailers are plotting to get ahead of a growing segment of the population’s return to the cities.