Kroger reports Q2 adjusted EPS 93c, consensus 91c

Reports Q2 revenue $33.91B, consensus $34.09B. Identical Sales without fuel increased 1.2%. Comments from Chairman and CEO Rodney McMullen: “Kroger achieved solid results in the second quarter demonstrating the strength and resiliency of our model. We are growing households and increasing customer visits by offering a compelling combination of affordable prices and personalized promotions on great quality products, all through a unique seamless experience. We appreciate our associates for their focus on full, fresh and friendly, which elevates the customer experience. Our long-term model is to consistently invest to lower prices so more customers shop with us, which in turn fuels our alternative profit businesses and drives greater efficiencies This flywheel enables Kroger to deliver exceptional value for customers and investing in our associates, and by doing so, we are well-positioned to generate attractive and sustainable returns for shareholders.”