Kroger Sales Jump 4.5% Even As Pricing Competition Heats Up

Kroger saw total sales jump 4.5% to $27.7 billion in Q3, ahead of Wall Street expectations, with net earnings reaching $397 million, or $0.44 per share. Same-store sales grew 1.1% in the quarter, slightly above projections of 0.9% growth.

The largest grocery-only retailer in the U.S. has dealt with increased competition as Walmart, Amazon, Costco and Target all have reduced prices on food and essentials in 2017. On top of that, this was the first quarter during which Kroger has had to maneuver through the AmazonWhole Foods acquisition.

With the results in hand, the supermarket chain reaffirmed its 2017 adjusted earnings per share forecast of $2.00 to…