The Kroger Co. (NYSE: KR) reported a decline in adjusted earnings for the fourth quarter of 2024, as the grocery chain’s sales dropped 7%. Earnings exceeded Wall Street’s projections.
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The Cincinnati-headquartered company reported net sales of $34.31 billion for the January quarter, compared to $37.06 billion last year. Identical sales, without fuel, increased by 2.4%.
Net income, excluding special items, decreased to $1.14 per share in the fourth quarter from $1.34 in the prior-year quarter but beat estimates. On an unadjusted basis, net earnings were $634 million or $0.94 per share in Q4, compared to $736 million or $1.01 per share in Q4 2023.
