Consumer Staples

Kroger (NYSE:KR) Fiscal Q2 Adjusted Net Earnings Rise While Sales Drop; Reiterates Fiscal 2023 Outlook

Kroger Co. (NYSE:KR) reported fiscal Q2 adjusted net earnings  of $0.96 per diluted share, up from $0.90 a year earlier. Analysts polled by Capital IQ expected $0.91. Sales for the quarter ended Aug. 12 were $33.85 billion, down from $34.64 billion a year earlier. Analysts surveyed by Capital IQ expected $34.12 billion. Identical sales, excluding fuel, were up 1% year over year, compared with a 5.8% rise reported a year earlier. Analysts polled by Capital IQ expected a 1.4% increase in same-store sales growth. The retailer said it continues to expect fiscal 2023 adjusted net earnings in the range of $4.45 to $4.60 per diluted share and a 1%-to-2% growth in identical sales without fuel. Analysts polled by Capital IQ expect normalized earnings of $4.51 per share and same-store sales growth of 1.9%.

Kroger (NYSE:KR) Fiscal Q2 Adjusted Net Earnings Rise While Sales Drop; Reiterates Fiscal 2023 Outlook Read Post »

General Mills Sticks to 2024 Outlook as Inflation Slows Down and Consumers Grow ‘Increasingly Cautious’

General Mills Inc. (NYSE:GIS) said Wednesday it continues to expect fiscal 2024 organic net sales to grow by 3% to 4% as it navigates a “resilient but increasingly cautious consumer” in the marketplace. CEO Jeff Harmening said the company will continue adapting to the changing environment with a focus on supply chain efficiency and disciplined capital allocation. Retail sales in the first quarter for at-home food categories in the U.S. continue to grow above pre-pandemic rates in but have slowed down from double-digit growth rates in fiscal 2023 as the company faces “increased value-seeking behaviors from consumers.” General Mills provided the comments ahead of its presentation at the 2023 Barclays Global Consumer Staples Conference.

General Mills Sticks to 2024 Outlook as Inflation Slows Down and Consumers Grow ‘Increasingly Cautious’ Read Post »

Scroll to Top