Kroger Co.’s first quarter performance beat Wall Street’s expectations, with double-digit increases in sales and earnings.


Kroger Co., first quarter, sales, earnings, David Dillon, chairman and chief executive officer, Customer First strategy








































































































































































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Inside This Issue - News

Kroger fiscal year off to good start

June 20th, 2011

CINCINNATI – Kroger Co.’s first quarter performance beat Wall Street’s expectations, with double-digit increases in sales and earnings.

Net income for the quarter was $432.3 million, up about 16% from that in the prior-year period.

Total sales, including fuel, increased 11% to $27.5 billion for the quarter. Same-store sales (excluding fuel) increased 4.6% in the quarter, marking the 30th consecutive quarter of same-store sales gains.

Kroger chairman and chief executive officer David Dillon attributed the company’s performance to the successful application of the company’s Customer First strategy.

"Our strategy actually is pretty simple," Dillon said during the conference call for the quarter. "It’s really trying to recognize that our earnings growth comes from better sales at Kroger. And better sales come from connecting with customers better than we previously did. And so we’re focusing all our efforts on trying to do that. We know we need to find a way to afford to do that."

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