Kroger beats Street with Q2 earnings, sales

Cincinnati – The Kroger Co. beat Wall Street expectations with strong net earnings and sales results for the second quarter of fiscal 2014. Net earnings rose 9% to $347 million from $317 million, while total sales increased 12% to $25.3 billion compared to $22.7 billion for the same period in the prior year.



Same-store sales climbed 4.8%. The addition of results from Harris-Teeter, which Kroger purchased in January 2014, helped boost Kroger’s performance from the previous year. Based on its strong results, Kroger raised guidance for third quarter earnings and same-store sales.



"We are winning with customers because we offer a full range of advantages including a great overall shopping experience, excellent customer service, a complete assortment of both national and corporate brand products, and everyday low prices and promotional offerings," said Rodney McMullen, Kroger's CEO. "As we improve our connection with customers, we are also executing our growth plan and delivering on our key performance indicators — all of which is fueling strong financial results for shareholders."