The Kroger Co. (NYSE: KR) reported an increase in adjusted earnings for the third quarter of 2024, while the grocery chain’s sales declined modestly. Earnings came in line with Wall Street’s projections.
The Cincinnati-headquartered company reported net sales of $33.6 billion for the October quarter, compared to $34.0 billion last year. Identical sales, without fuel, increased by 2.3%.
Net income, excluding special items, increased to $0.98 per share in the third quarter from $0.95 in the prior-year quarter, matching estimates. On an unadjusted basis, net earnings were $618 million or $0.84 per share in Q3, compared to $646 million or $0.88 per share in Q3 2023.
