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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.
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Big Lots meets income expectations
COLUMBUS, Ohio — Big Lots reported income from continuing operations of $120.3 million, or $2.09 per diluted share, for the fourth quarter of fiscal 2012, meeting the company's expectations for net income to be in the range of $1.91 to $2.10 per diluted share.
Net sales for U.S. operations for the fourth quarter of fiscal 2012 increased 4.4% to $1.8 billion, compared to $1.6 billion for the same period of fiscal 2011. Comparable-store sales for U.S. stores decreased 3.5% for the quarter.