This June 12, 2012 photo shows a Kroger store in Indianapolis. THE CANADIAN PRESS/AP, Michael Conroy
December 05, 2013 - 6:32 AM
CINCINNATI - Kroger's net income fell nearly 6 per cent during the third quarter, partly on the costs from the pending acquisition of Harris Teeter.
The nation's largest traditional supermarket operator reported net income of $299 million, or 57 cents per share. That compares with net income of $317 million, or 60 cents per share a year ago. Excluding one-time items, net income totalled 53 cents per share, matching expectations, compared with 46 cents per share last year.
Revenue rose 3 per cent to $22.51 billion from $21.81 billion. Analysts expected $22.72 billion.
Kroger Co., which owns also Ralphs, Fry's and other chains, said sales rose 3.5 per cent at stores open at least a year.
The company stuck to its per-share earnings expectations of $2.73 to $2.80 for the year.
News from © The Associated Press, 2013