3 Analysts Debate Kroger's Stock Following Q3 Earnings
Kroger Co (NYSE: KR) reported Thursday third-quarter resultsthat fell short of expectations. The company reported quarterly sales of $27.974 billion, which missed the analyst consensus estimate of $28.15 billion. What's next for the troubled stock? Kroger's management could have done a better job of emphasizing several metrics which showcase an improving business, Wells Fargo analyst Edward Kelly wrote in a note. These include FIFO EBIT coming in better than expected by 8% when excluding all one-time items, identical store sales of 2.5% beat expectations of 2.3% and full-year EPS guidance was maintained despite a 7-cent per share cost from pharmacy/LIFO.