Shares of Kroger (KR) have risen some 5% over the past trading week. The operator of supermarkets and multidepartment stores operating under a range of different names reported a strong set of third-quarter results on Thursday.
Third-Quarter Results
Kroger reported third-quarter revenues of $21.81 billion, up 5.9% compared to the year before. Growth was driven by a 3.2% increase in identical supermarket sales. Excluding fuel sales, revenues were up by 3.7%. Revenues came in ahead of analysts estimates of $21.55 billion. Gross margins fell 25 basis points to 20.35% on a FIFO accounting basis.
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