These Analysts Raise Their Forecasts On Kroger After Stronger-Than-Expected Q1 Earnings

Kroger Co. (NYSE:KR) reported better-than-expected first-quarter adjusted EPS results on Friday.

The company reported first-quarter adjusted earnings per share of $1.49, beating the analyst consensus estimate of $1.46. Quarterly sales of $45.12 billion missed the Street view of $45.19 billion, with identical sales ex-fuel increasing 3.2%.

Gross margin in the quarter under review increased to 23% from 22% a year ago. The improvement in gross margin was primarily attributable to the sale of Kroger Specialty Pharmacy, lower shrink, and lower supply chain costs, partially offset by the mix effect from growth in pharmacy sales which have lower ...