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Kroger Advances Fresh Produce Initiative and Reports Second Quarter 2022 Results; Rodney McMullen and Gary Millerchip Comment

Kroger Advances Fresh Produce Initiative and Reports Second Quarter 2022 Results; Rodney McMullen and Gary Millerchip Comment



CINCINNATI, OH - Kroger is ramping up for future growth, and it's doing so with fresh in the spotlight. The grocer recently revealed its second quarter financial results, showcasing not only strong sales, but advancements to its fresh produce strategies, digital acceleration, and more.

Rodney McMullen, Chairman and Chief Executive Officer, Kroger"Kroger delivered strong second quarter results propelled by our Leading with Fresh and Accelerating with Digital strategy. We are incredibly thankful for our dedicated associates who continue to deliver a full, fresh, and friendly customer experience,” commented Chairman and Chief Executive Officer Rodney McMullen. “Our consistent performance underscores the resiliency and flexibility of our business model, which enables Kroger to thrive in many different operating environments. We are applying technology and innovation to improve freshness, grow Our Brands, and create a seamless shopping experience so our customers can get what they want, when and how they want it, with zero compromise on quality, selection, and affordability.”

Some of the key accomplishments highlighted in Kroger’s second quarter report include:

  • Accelerating its Fresh Produce Initiative with 864 stores now certified, driving higher identical sales
  • Executing its go-to-market strategy to deliver value for customers
  • Investing in wages and the associate experience
  • Operating profit of $954 million; Adjusted FIFO operating profit of $1,110 million
  • Identical sales without fuel increased 5.8 percent
  • Digital sales grew 8 percent

The grocer recently revealed its second quarter financial results, showcasing not only strong sales, but advancements to its fresh produce strategies, digital acceleration, and more

As outlined in the release, Kroger’s total company sales were $34.6 billion in the second quarter, compared to $31.7 billion for the same period last year.

Gary Millerchip, Chief Financial Officer, Kroger"Our second quarter results provide another proof point that Kroger has the right go-to-market strategy. Our consistent execution of this strategy is building momentum in our business which, combined with sustained food at home trends, gives us the confidence to raise our full-year guidance,” noted Chief Financial Officer Gary Millerchip. “We now expect identical sales without fuel to be in the range of 4.0 percent to 4.5 percent and adjusted net earnings per diluted share in the range of $3.95 to $4.05. Our business model has proven to be resilient in a variety of operating and economic environments, and we remain confident in our ability to deliver attractive and sustainable total shareholder returns of 8–11 percent over time."

To read more of the report, click here.

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