The Kroger Company (KR - Analyst Report), one of the largest grocery retailers, came out with first-quarter fiscal 2015 results, wherein earnings of $1.25 per share beat the Zacks Consensus Estimate of $1.21 and surged 14.7% from the prior-year quarter.
The Cincinnati-based Kroger has reiterated fiscal 2015 earnings guidance between $3.80 and $3.90 per share. The current Zacks Consensus Estimate for fiscal 2015 stands at $3.87.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 and 2016 has been unchanged over the past 30 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 8.4%.
Revenues: Kroger generated total revenue of $33,051 million that increased 0.3% year over year but came below the Zacks Consensus Estimate of $33,297 million. The company’s identical supermarket sales, without fuel, grew 5.7%, marking 46th consecutive quarter of growth.
Consequently, Kroger upgraded its identical supermarket sales growth guidance, without fuel, to 3.5% to 4.5% for fiscal 2015 as against earlier expected range of 3% to 4%.
Zacks Rank: Currently, Kroger carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Kroger’s shares are up nearly 1.6% during pre-market trading hours following the earnings release.
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