Kroger 2Q Profit Rises, Meets Target

Cincinnati, Kroger Co. said today its second-quarter profit 38%, aided by a rebound in Southern California following a costly four-month strike last year. The company said it was seeing “sustained improvement” at its Ralphs and Food 4 Less supermarkets.

For the quarter ended Aug. 13, Kroger reported earnings of $196.5 million, or 27? a share, compared with $142.4 million, or 19? a share, in the prior-year period. Sales rose 6.8% to $13.78 billion from $12.98 billion last year.

The results matched Wall Street’s consensus target of 27? per share.