Kroger Surges the Most Since 1993
- Share gains follows comparable sales that beat estimates
- CEO says the company will maintain momentum into next year
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Kroger Co. is finding its stride, even as competition heats up in the cutthroat grocery industry.
Shares of the grocer, battered for months by pessimism after Amazon.com Inc. pushed into the fiercely competitive industry, jumped as much as 14 percent -- the most in almost 25 years -- after the company posted same-store sales that beat estimates. Kroger also sees sales growth continuing in the fourth quarter.