Kroger tumbles after missing on sales (KR)
|09/13/2018||Posted by BusinessMediaguide.Com under General World News||
- Kroger beat on profits but missed on sales.
- The grocer reiterated its full-year guidance.
- Shares dropped more than 7% ahead of Thursday’s opening bell.
- Watch Kroger trade in real-time here.
Kroger shares plunged more than 7% ahead of Thursday’s opening bell after missing Wall Street’s sales forecast.
The grocer posted revenue of $27.9 billion, missing the $28.6 billion that was expected by Wall Street analysts, according to Bloomberg data. Kroger said it earned $0.41 per share after adjusting for some pre-tax gains, topping the $0.38 that was expected.
“We are only two quarters into our three year Restock Kroger plan, and we are read more >>>