HUTCHINSON, Kan. — Kroger posted stronger-than-expected second quarter earnings Friday, as the parent company of Dillons worked to retain value to its customers in a time of record inflation.
Adjusted earnings for the three months ending in July came in at $0.90 per share, up 12.5% from the same period last year and well ahead of consensus forecast of $0.82 per share. Group sales jumped 9.1% to $34.6 billion and same-store sales were up 5.8% from last year, all topping market forecasts.
Kroger says it expects the numbers to continue in a positive direction as it heads into the second half of its fiscal year. Dillons operates 65 stores in 30 cities in Kansas, including four in Hutchinson.
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