Kroger Q4 Earnings Fall

Cincinnati Kroger Co. said Tuesday that its quarterly profit fell from a year ago, due to an unexpected tax benefit and other items that boosted previous earnings.

Kroger’s fourth-quarter total sales increased 2.2% to $17.2 billion for the fourth quarter ended Feb. 2, 2008. This was a 10.2% increase compared to the fourth-quarter last year, after adjusting for the extra week. Meanwhile, profit hit $322.9 million, compared to $384.8 million for the same quarter last year, which ended in January.

Supermarket same-store sales increased 8.2% including fuel sales. These sales rose 5.3%, excluding fuel.)