We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Kroger CEO “Disappointed” With 4th Quarter Profit

March 2, 2017: 12:00 AM EST
Kroger posted a disappointing 4th quarter profit of $506 million (53¢ a share), down from $559 million (57¢ a share) last year. Sales were $27.6 billion, up 5.5 percent ($26.2 billion) from a year ago. Net earnings for fiscal 2016 totaled $1.98 billion, or $2.05 a share. Excluding the restructuring of some multi-employer pension obligations, adjusted net earnings for the year were $2.05 billion, or $2.12 a share (up from 2015’s $2.04 billion, or $2.06 a share. The company said it created 12,000 new supermarket jobs in 2016. CEO Rodney McMullen, noting that the company was “obviously disappointed” with 4th quarter profit, said further cost cutting would allow the company to reach its long-term EPS growth rate target of 8 to 11 percent. [ Image credit: © Kroger Co. ]
"Kroger Reports Fourth Quarter and Full Year 2016 Results", Earnings release, Kroger, March 02, 2017, © The Kroger Company
Domains
RETAIL BUSINESS
Market News
Operations
Geographies
Worldwide
North America
United States of America
Categories
Companies, Organizations
Earnings Release
Market News
Developed by Yuri Ingultsov Software Lab.