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Kroger Quarterly Earnings Announced

Kroger says profit and sales rose for its second quarter, as the nation’s largest grocery store chain continues to build shopper loyalty in a sluggish economy with incentives such as fuel rewards and special coupons.

Kroger Co. reported Friday that net income rose 7.3 percent and sales were up 11.5 percent, to $20.9 billion. Net income was $280.8 million, or 46 cents per share, up from $261.6 million and 41 cents. Analysts expected 43 cents a share on $20.5 billion in sales. Kroger said earnings got a boost from tax adjustments and sales at its gas stations..

Kroger showed a 5.3 percent rise in Identical store sales, a key retail indicator that tracks sales growth at stores that have been open at least 15 months and excludes fuel sales

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