Kroger Reports Healthy Sales, Profits; CEO Says Tax Reform Will Help

Retail grocery giant Kroger Co. posted fiscal 2017 net earnings of $1.9 billion ($2.09 a share) on sales of $122.7 billion, a 6.4 percent increase over 2016. Net earnings in 2016 were $2 billion ($2.05 share).  CEO Rodney McMullen said the company ended 2017 “with positive momentum in our sales and overall business” after launching Restock Kroger, a strategy to use the company’s food and data analytics expertise to create better customer experiences online and in stores. He waxed optimistic about the impact of President Trump’s tax reform measure. "The Tax Cuts and Jobs Act is a catalyst that is enabling us to accelerate investments in Restock Kroger,” McMullen said. “We are taking a balanced approach to ensure tax reform benefits our associates, customers and shareholders.” [Image Credit: © Kroger]