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Kroger Boosts Profit Forecast on Robust Grocery Demand

  • Earnings surpass Wall Street’s estimates in second quarter
  • Food-at-home strength lingers even as Covid restrictions ease
A Kroger supermarket in Louisville, Kentucky. 

A Kroger supermarket in Louisville, Kentucky. 

Photographer: Luke Sharrett/Bloomberg
Updated on

Kroger Co. exceeded Wall Street’s earnings estimates and raised its annual forecast, citing strong demand for food prepared at home and a shift toward private-label goods.  

Adjusted earnings in the current fiscal year will range as high as $4.05 a share, up from the previous forecast of no more than $3.95, Kroger said in a statement Friday. The profit measure rose to 90 cents a share in the fiscal second quarter, compared with the 82-cent average of analyst estimates compiled by Bloomberg.