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Kroger swings to loss in Q4
Cincinnati -- The Kroger Co. reported on Thursday that it posted a loss in the quarter ended Jan. 28, attributing the loss to costs associated with consolidating its pension plan for union workers.
The grocer, which counts among its banners Kroger, Ralphs and Food 4 Less, lost $306.9 million in the quarter, compared with a profit of $278.8 million in the year-ago period.
Total sales in the quarter rose 7.7% to $21.4 billion. Excluding fuel, sales rose 5%. Same-store sales increased 4.9%.
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PetSmart Q4 profit surges 13%
Phoenix -- PetSmart Inc. reported Thursday that profit for the fourth quarter rose 13% to $102 million, compared with $90.3 million in the year-ago period.
Revenue during the quarter was $1.64 billion, up from $1.52 billion a year earlier and beating Wall Street’s expected $1.62 billion in revenue. Same-store sales rose 5.5%.
For the full year of 2011, the company reported net income of $290.2 million, up from $239.9 million in 2010. Revenue for the year was $6.11 billion, up from $5.69 billion the year before.