Kroger 3Q Profit Up 16%

Cincinnati, Kroger Inc. on Tuesday said third-quarter net income rose 16%, as established stores turned in a solid performance. Net income for the quarter ended Nov. 4 climbed to $214.7 million compared with net income of $185.4 million. Kroger said revenue gained 5% to $14.70 billion, from $14.02 billion last year. Analysts predicted revenue of $14.86 billion. Comp-store sales increased 4.9% including gasoline sales and 5.3% excluding fuel sales.

For fiscal 2007, the company sees earnings per share growth between 6% and 8%.