FILE - This June 12, 2012 file photo shows a Kroger store in Indianapolis. The Kroger Co. announced Thursday, March 7, 2013 that its fourth-quarter profit in 2012 handily beat Wall Street expectations. (AP Photo/Michael Conroy, File)
News Summary: Kroger beats expectations
Published: 05:53:24 PM, Thu 07 March 2013 UTC
BOTTOM LINE: The Kroger Co., the nation's biggest traditional supermarket operator, reported net income of $461.5 million, or 88 cents per share, for the fourth quarter. Its results excluding one-time items beat analysts' expectations.
THE BACKGROUND: The Cincinnati-based company, which also owns Ralphs, Fry's and Food 4 Less, faces growing competition from big-box retailers, drug stores and dollar stores that are expanding their grocery sections. Kroger has focused on improving the in-store experience, offering discount programs and expanding its stable of private-label products.
WHAT'S COOKING: Sales at stores open at least a year rose 3 percent, excluding fuel, in the fourth quarter. The metric is a closely-watched indicator of retail health. For 2013, the company expects the figure to rise between 2.5 percent and 3.5 percent.
Tags:
nation, wal-mart, kroger co., kroger, stable, safeway inc., stores, cents, quarter, news summary, one-time items, retailing, percent, line, expectations, results, big-box retailers, dollar stores, hypermarket, competition, supermarket, business, analysts, net income, food, share, background, fry, drug stores, metric, supermarkets of the united states, retail health, cincinnati-based company, discount programs, traditional supermarket operator, ralphs, private-label products, grocery sections, in-store experience, closely-watched indicator
