The Kroger Co. KR, one of the largest grocery retailers, came out with fourth-quarter fiscal 2015 results, wherein earnings of 57 cents per share beat the Zacks Consensus Estimate of 54 cents and surged 9.6% from the prior-year quarter.
The Cincinnati-based Kroger now envisions fiscal 2016 earnings per share in the range of $2.19–$2.28 per share. The current Zacks Consensus Estimate for fiscal 2016 stands at $2.23.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has been unchanged over the past 30 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 7.3%.
Revenues: Kroger generated total revenue of $26,165 million including fuel and Roundy's Inc. that increased 3.8% year over year but came below the Zacks Consensus Estimate of $26,193 million. The company’s identical supermarket sales, without fuel, grew 3.9%, marking 49th consecutive quarter of growth. However, taking into account six weeks of Roundy's results, identical supermarket sales without fuel rose 3.7%.
Kroger now envisions identical supermarket sales (excluding fuel) growth of 2.5% to 3.5% for fiscal 2016.
Key Events: During fiscal 2015, Kroger bought back 19 million shares for $703 million.
Zacks Rank: Currently, Kroger carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.
Stock Movement: Kroger’s shares are down nearly 6.2% during pre-market trading hours on account of revenue miss.
Check back later for our full write up on Kroger’s earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
KROGER CO (KR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research