Kroger tumbles after missing on sales (KR)

pulse

September 13, 2018 1:26 PM

Kroger beat on profits but missed on sales. The grocer reiterated its full-year guidance.

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Kroger shares plunged more than 7% ahead of Thursday's opening bell after missing Wall Street's sales forecast.

The grocer posted revenue of $27.9 billion, missing the $28.6 billion that was expected by Wall Street analysts, according to Bloomberg data. Kroger said it earned $0.41 per share after adjusting for some pre-tax gains, topping the $0.38 that was expected.

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