Kroger Reports Record 4Q and Full Year Results
Cincinnati, OH-
By ANUK Staff
3.7.13
The Kroger Co. has reported record fourth quarter and full year 2012 fiscal results.
Net earnings for the fourth quarter were $0.88 per diluted share and identical supermarket sales grew by 3%. For the full year, net earnings reached $2.77 per diluted share while identical supermarket sales posted 3.5% growth.
For the fourth quarter, total sales rose by 12.8% to $24.2 billion. After adjusting to the quarter’s extra week, total sales increased by 3.7% over the fourth quarter 2011. Net earnings totaled $461.5 million or $0.88 per diluted share. Kroger exceeded fourth quarter earnings per diluted share expectations by $0.07.
"Our associates delivered an outstanding year that underscores how our growing connection with customers remains the key to shareholder value creation," said David B. Dillon, Kroger's chairman and chief executive officer. "Kroger's unique value offering of better service, great products and an enjoyable shopping experience with low prices continues to resonate with a full range of customers. The result is an industry-leading 37 consecutive quarters of positive identical sales growth."For the full year, record earnings per share exceeded guidance by $0.07 per diluted share. Total sales increased 7.1% from the prior year to $96.8 billion. After adjusting for the extra week in fiscal 2012, total sales increased to $94.8 billion or 4.9% compared with the prior fiscal year.
"We are very pleased with our full year 2012 results," Mr. Dillon said. "We achieved strong sales and pharmacy results, plus controlled expenses well throughout the year. We delivered value to shareholders by increasing our dividend 30 percent and exceeding our own earnings per share guidance through the combination of solid operating results and share buybacks in 2012."
