Kroger: Top Line A Little Light But It’ll Be Fine
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Personal favorite and the nation’s leading grocer Kroger (KR) recently reported Q2 23 earnings. The top line appears to have come in a little light, with comps of only +1.0% (+2.6% excluding the termination of their relationship with Express Scripts). I assume that’s why shares were around -3% in the pre-market period.
Nevertheless, KR maintained full year guidance for comps of +1.0% to +2.0% and EPS of $4.45-$4.60. Despite what appears to be a little hiccup, KR is too solid of a company at too cheap of a valuation to get hit too hard, in my opinion. I sold some KR $43.50 Sept. 8 Puts for ~40 cents, so hopefully those will stay out of the money and expire worthless.
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