Kroger Whiffs on Q3 Revenue but Guides for a Solid Fiscal 2020
Supermarket operator The Kroger Co. (NYSE: KR) reported its third quarter (Q3) 2020 results today, missing analyst consensus slightly on its top-line results but delivering a positive surprise in earnings per share (EPS). Kroger's shares are falling. Its $29.7 billion in revenue falls short of the $29.9 billion Zacks Equity Research reports as the Wall Street average, or a negative surprise of approximately 0.67%.
Perhaps more significantly for investors, the company's guidance predicts only slight increases in the coming months, which Bloomberg sees as an indicator the company's pandemic-driven success is reaching a plateau. Kroger altered its earlier prediction of greater than 13% whole-year identical-store sales growth to the much more specific 14%.
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Source Fool.com
