HUTCHINSON, Kan. — Kroger reported non-fuel sales rose 3.1% in the third quarter as the parent company of Dillons released its third quarter earnings report Thursday morning.
Kroger’s adjusted earnings for the three months ending in October, totaled $0.78 cents per share, up 9.9% from the same period last year and firmly ahead of Wall Street’s forecast of 66 cents per share. Revenue jumped 7.4% to $31.9 billion, again topping analysts' estimates. The company also continued to increase its digital footprint, Digital sales rose 103% from 2019 levels.
"Kroger's strategy to lead with fresh and accelerate with digital continues to connect with our customers,” Kroger CEO Rodney McMullen said. “Our agility, and the commitment from our amazing associates, is allowing us to navigate current labor and supply chain conditions and provide the freshest food at affordable prices across our store and digital ecosystem.”
Kroger is forecasting stronger full-year profits as sales get a boost from the highest levels of food price inflation in more than a decade and the ongoing boom in pandemic-era grocery demand.
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