-
Kroger Q4 profit beats Street
Cincinnati -- The Kroger Co. on Thursday reported a better-than-expected profit for its fourth quarter profit amid a surge in sales.
For the period ending Feb. 2, Kroger earned $461.5 million, compared to the year ago period when the company reported a loss of $306.9 million as pension costs dragged down results.
Revenue rose 12.8% to $24.2 billion. Same-store sales increased 3% for the quarter, excluding fuel. After adjusting for the extra week in the fourth quarter, total sales increased by 3.7% over the fourth quarter of fiscal 2011.
-
Ahold chairman to step down
AMSTERDAM — Rene Dahan will step down as Royal Ahold's board chairman in October, the Dutch supermarket operator said Wednesday.
Netherlands-based Ahold — which operates the Stop & Shop, Giant-Landover and Giant-Carlisle chains and the Peapod online grocery service in the United States through its Ahold USA subsidiary — said that Dahan would step down after serving on the company's board since 2004. The company plans to propose at its shareholder meeting the appointment of Jan Hommen as Dahan's successor.