Kroger beats earnings prediction with robust financials
Those holding Kroger shares are happy as shares jumped 13 percent last Thursday after quarterly earnings revealed the supermarket brand beat street expectations.
The chain reported a 4.5 percent jump in sales and revenue of $27.75 million in the third quarter, according to a Business Insider report. Analysts expected $27.48 million.
"The holidays are always Kroger's time to shine. In fact, we had our best ever Black Friday results for general merchandise, led by record sales at Fred Meyer. Everything we are doing revolves around our associates providing friendly service and fresh products to our customers," Chairman and CEO Rodney McMullen said in a press release.