The Kroger Co.(NYSE: KR) reported strong second-quarter financial performance and expressed optimism that it will be able to consistently deliver attractive returns to shareholders.
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According to Kroger, its market share is growing because customers trusted its brand and they value the quality and freshness of its products. The company’s digital business is a primary contributor to its growth.
Second-quarter financial results
On Friday, Kroger said its total company sales were $30.5 billion in the second quarter that ends August 15. During the same period last year, its total sales were $28.2 billion. Excluding fuel, its sales increased 13.9%.
The retail compang said its identical sales excluding fuel climbed by 14.6% compared with a bump of 2.2% in the same period last year.
Kroger achieved earnings of $0.73 per share, up 66% compared with its earnings of $0.44 per share in the year-ago quarter.
