Kroger Announces Third Quarter 2024 Financial Results and Updates Guidance Range
Third Quarter Highlights
Identical Sales without fuel increased 2.3%
Operating Profit of $828 million; EPS of $0.84
Adjusted FIFO Operating Profit of $1,017 million and Adjusted EPS of $0.98
Achieved strong Adjusted Free Cash Flow
Executed its go-to-market strategy to deliver value for customers
Grew digital sales 11%
Our Brands sales growth outpaced total grocery sales growth
Increased total households and loyal households
CINCINNATI , Dec. 5, 2024 /PRNewswire/ — The Kroger Co. (NYSE: KR) today reported its third quarter 2024 results, narrowed its guidance range and updated investors on how Kroger is positioned for long-term sustainable growth.
Comments from Chairman and CEO Rodney McMullen: “Kroger achieved strong sales results in the third quarter led by our pharmacy and digital performance, which reflects the strength and diversity of our model.”
How will this affect me?
As a consumer, the increase in digital sales and focus on delivering value for customers may result in enhanced shopping experiences, more tailored promotions, and potentially more convenient ways to shop for groceries through Kroger’s online platforms. The growth in Our Brands sales may also translate to more affordable and quality private label products for you to choose from.
How will this affect the world?
Kroger’s strong financial results and commitment to long-term sustainable growth could signify stability and innovation in the grocery industry. By growing its digital sales, Kroger may set a precedent for other retailers to invest more in their online presence and adapt to changing consumer preferences. Additionally, the focus on increasing loyal households demonstrates a commitment to building long-lasting relationships with customers, which could have a positive impact on customer loyalty trends in the grocery sector.
Conclusion
In conclusion, Kroger’s third quarter 2024 financial results and updated guidance range reflect a company that is prossionally managed, educated on market trends, profit-focused, and intense in its efforts to provide value for customers and sustainable growth for investors. With a strong performance in digital sales, growth in Our Brands, and focus on loyal households, Kroger is positioning itself as a leader in the grocery industry, setting the stage for continued success in the future.
