HUTCHINSON, Kan. — Kroger got the fiscal year off to a good start with a release of its first quarter earnings on Thursday.
Total company sales for the parent company of Dillons totaled $41.3 billion in the first quarter, compared to $41.5 billion for the same period last year. Digital sales jumped 16% year over year. Excluding fuel, sales decreased 4.0% compared to the same period last year.
Operating profit totaled $805 million and total earnings came in at $1.19 per share.
The company also announced a $1 billion share-buyback program and continues to re-energize their pension programs with various store chains.
Pointing to the better-than-expected results and confidence for the rest of the year, the company raised its full-year outlook for earnings to between $2.95 a share and $3.10 a share, from a prior range that topped out at $2.95 a share.
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