Kroger's pandemic-fueled sales growth slows from prior quarters

摘要

The Kroger Co. shares slumped after the retailer turned in a third-quarter performance that suggests the peak of its pandemic-driven gains has passed. While earnings exceeded investor expectations, revenue fell short, and the company's sales growth has slowed from the first and second quarters. Shares of the Kroger Co. trading on the New York Stock Exchange closed at $30.88 on Dec. 3, down $1.41, or 4.4%, from $32.29 the day before. Net earnings attributable to the Kroger Co. for the third quarter ended Nov. 7 were $631 million, equal to 81c per share on the common stock, up sharply from $263 million, or 32c per share, in the prior-year period. The company recorded lower operating expenses as a percent of sales in the recent period.