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Kroger’s same-store sales miss estimates

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Sept 13 – Kroger Co missed quarterly same-store sales estimates on Thursday, as disruptions caused by the supermarket chain changing the way it stocks merchandise on shelves kept some customers away from its stores.

Cincinnati-based Kroger said net income rose to $508 million, or 62 cents per share, in the second quarter ended Aug. 18, from $353 million, or 39 cents per share, a year earlier.

The company’s same-store sales, excluding fuel, rose 1.6 percent in the quarter. Analysts on average had expected a 1.86 percent increase, according to Thomson Reuters I/B/E/S.

Total sales rose to $27.87 billion from $27.60 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

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