Retail News Breaks Archives
Kroger posts strong sales growth in fiscal 2011
March 2nd, 2012
CINCINNATI – Kroger Co. reported a fourth quarter loss of $306.9 million, or 54 cents per diluted share, due to the consolidation of a union pension plan.
Excluding the impact of the plan, the bottom line edged up 1.8% to an adjusted $283.8 million.
Sales for the quarter rose 7.7% to $21.4 billion, as identical-store sales excluding fuel rose 4.9%.
Full-year sales climbed 10.2% to $90.4 billion, while reported net income plunged 46% to $602.1 million. Excluding the effect of the union pension plan consolidation, the bottom line would have grown approximately 7.5% to $1.2 billion, or $2 per share.