Department store chain The Kroger Co. (NYSE: KR) reported higher net sales and profit for the fourth quarter of 2023. Earnings beat estimates, while sales came in line with expectations.
The chompany reported net sales of $37.1 billion for the January quarter, compared to $34.8 billion for the same period last year. Identical sales, without fuel, decreased 0.8%. The top line came in line with analysts’ estimates.
Net income, excluding special items, increased to $1.34 per share in the fourth quarter from $0.99 per share in the year-ago quarter. On an unadjusted basis, net earnings were $736 million or $1.01 per share in Q4, compared to $450 million or $0.62 per share last year.