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Kroger Stock Surges on Strong Q1 Performance and Optimistic Forecast
Kroger Stock Surges on Strong Q1 Performance and Optimistic Forecast
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The Kroger Co. shares jumped nearly 9% following better-than-expected first-quarter earnings, with identical-store sales growth of 3.2% driven by pharmacy, fresh foods, and e-commerce segments. While revenue slightly missed estimates at $45.12 billion, the company raised its full-year sales outlook, signaling confidence in continued momentum.
Digital sales grew 15%, though profitability in e-commerce remains elusive. Kroger's strategic shift includes closing 60 underperforming locations while accelerating new store openings—a MOVE investors endorsed as shares gained 16% year-to-date. Adjusted operating profit rose 1.3% to $1.52 billion despite an 8.6% decline in net income.
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