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 $44.6 billion in the first quarter, compared to $41.3 billion for the same period last year. Excluding fuel, sales increased 3.8% compared to the same period last year.
Operating Profit totaled $1,505 million. Total earnings per share were 90 cents, with an adjusted earnings per share of $1.45.
The company raised its full-year outlook. CFO Gary Millerchip said, "We now expect identical sales without fuel to be in the range of 2.5% to 3.5%, adjusted FIFO operating profit of $4.3 billion to $4.4 billion, and adjusted net earnings per diluted share to be in the range of $3.85 to $3.95."
Kroger's first quarter 2022 ended on May 21.