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Kroger (NYSE: KR) 2Q19 Results: Strong Same-Store Sales and EPS Beat

Executive Summary

  • For 2Q19, ended August 17, Kroger reported same-store sales growth ex fuel of 2.2%, ahead of the consensus estimate of 1.8% and strengthening from 1.5% in the prior quarter.
  • Adjusted EPS of $0.44 was ahead of the $0.41 consensus.
  • Management confirmed FY19 guidance of same-store sales growth of 2.0-2.25% and EPS of $2.15-2.25. However, management did not reconfirm guidance for $400 million of incremental operating profit from the Restock Kroger plan by FY20.

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