Kroger Q4 profit beats Street
CINCINNATI -- Kroger reported a better-than-expected profit for its fourth quarter profit amid a surge in sales.
For the period ending Feb. 2, Kroger earned $461.5 million, compared with the year ago period when the company reported a loss of $306.9 million as pension costs dragged down results.
Revenue rose 12.8% to $24.2 billion. Same-store sales increased 3% for the quarter, excluding fuel. After adjusting for the extra week in the fourth quarter, total sales increased by 3.7% over the fourth quarter of fiscal 2011.
For the full 2012 fiscal year, total sales increased to $96.8 billion or 7.1% compared with the prior fiscal year. After adjusting for the extra week in fiscal 2012, total sales increased to $94.8 billion or 4.9% compared with the prior fiscal year.
Excluding fuel, total sales increased 6% over the same period last year. Further adjusting for the extra week, total sales excluding fuel increased 4%.
Net earnings for fiscal year 2012 totaled $1.50 billion.