Shares of Kroger (KR) ended trading last week on a strong note. The supermarket chain reported a strong set of fourth quarter results on Thursday before the market open. Shares ended Thursday's trading session with gains of approximately 3% and gained a similar percentage during Friday's trading session.
Fourth Quarter Results
Kroger generated fourth quarter revenues of $24.2 billion for the final quarter, up 12.8% on the year before. Sales growth was driven by the fact that the fourth quarter contained an extra working week. Excluding the extra week, sales were up by 3.7%. Identical supermarket sales growth for the quarter came in at 3.0%, just below the full year growth rate of 3.5%, and the third quarter growth rate of 3.3%. The quarter marks the 37th consecutive quarter in which Kroger managed to increase its identical sales.
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