The Kroger Co. (NYSE: KR) reported a decline in adjusted earnings for the fourth quarter of 2024, because the grocery chain’s gross sales dropped 7%. Earnings exceeded Wall Road’s projections.
The Cincinnati-headquartered firm reported internet gross sales of $34.31 billion for the January quarter, in comparison with $37.06 billion final yr. Equivalent gross sales, with out gasoline, elevated by 2.4%.
Internet revenue, excluding particular gadgets, decreased to $1.14 per share within the fourth quarter from $1.34 within the prior-year quarter however beat estimates. On an unadjusted foundation, internet earnings had been $634 million or $0.94 per share in This autumn, in comparison with $736 million or $1.01 per share in This autumn 2023.