Kroger (KR) shares dropped over 2% on June 16 despite the company delivering blowout first-quarter results. Furthermore, the American retailer that operates supermarkets and multi-department stores throughout the U.S. raised its FY2022 guidance well above analysts' expectations. Q1 Beat The company reported stellar quarterly earnings of $1.45 per share, significantly higher than analysts’ estimates of $1.28 per share and much higher than the earnings of $1.19 per share reported in the prior-year period. Similarly, total sales gained 8% to $44.6 billion compared to the prior-year period and outpaced the Street’s estimate of $43.05 billion. The revenue growth is attributed to a 5.2% growth in Fresh Department identical sales, a 6.
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Kroger (NYSE:KR)
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Kroger (NYSE:KR)
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