Kroger Sees Faster Growth Ahead in 2020
Kroger (NYSE: KR) announced fourth-quarter earnings results on Thursday that indicated stable sales trends, tempered by continued market share losses against its biggest rivals.
The supermarket chain's sales growth slowed to 2% in the holiday quarter from 2.5%. That result was roughly even with Walmart's overall growth, and it allowed Kroger to accelerate gains for the broader year. Still, its 2% increase in 2019 trailed Walmart's 2.8% gain and underperformed other peers like Target.
Management stressed the fact that Kroger met its wider financial goals for the year. "We are pleased with our 2019 results and improving trends in our supermarket business," CEO Rodney McMullen said in a press release.
Source Fool.com
