Kroger Posts Strong Sales, Profit, In 3rd Quarter

Kroger Co., the No. 2 retail grocer in the U.S. after Walmart, reported higher-than-expected gains in third-quarter profit, thanks to tighter controls on costs coupled with strong sales. Wall Street expected 39 cents a share in profit and $25.2 billion in sales The company posted 43 cents in EPS, or a total profit of $428 million, up from $362 million, or 36 cents a share, in 2014. Revenue rose to $25.1 billion from $25 billion last year. The company’s forays into the natural and organic foods sector once dominated by specialty grocers have proven successful. CEO Rodney McMullen said the 3rd quarter results “demonstrate once again that our relentless focus on customers is the key to sustainable shareholder returns.”