The Kroger Co. (NYSE: KR) reported a 57% jump in earnings for the first quarter of 2020 driven by higher sales. The significant investments in Restock Kroger helped the company deliver improved results as the fresh food and essentials were needed during the pandemic.
Kroger’s capital allocation strategy is to use its adjusted free cash flow to invest in the business and drive profitable growth while also maintaining its current investment grade debt rating and returning capital to shareholders. The company actively balances the use of its adjusted free cash flow to achieve these goals.
The COVID-19 pandemic has dramatically changed the outlook for food retail in 2020 and the company continues to monitor, evaluate, and adjust its plans to address the impact on its business. While Kroger expects to exceed the previous outlook for identical sales without fuel, adjusted FIFO operating profit, adjusted EPS, and adjusted free cash flow, the company is not able to forecast the extent of such upside.
Take a look at our Retail articles here
Most Popular
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
Target (TGT): A look at some of the challenges faced by the retailer in 3Q24
Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and
