Kroger Shares Fall Ahead of 4Q Report -- Market Mover
Kroger Co. shares fell 6.8% to $26.09 during afternoon trading ahead of the supermarket's quarterly earnings report expected Thursday morning. Analysts told the Journal the slip was likely part of the fallout from Dollar Tree Inc.'s misses on earnings and comparable-store sales in its latest quarter. The report mostly weighed on discounters, but Kroger, which said Wednesday it is doubling down on its commitment to higher-end natural foods, wasn't immune to the aftermath. Overall the grocer is expected to report rising sales and profit for its fourth quarter. BMO Capital Markets expects the grocer to report same-store sales slightly above consensus. Kroger shares have fallen 8.5% over the past year, while the S&P 500 has risen 15%. (email@example.com; @moisenoise)
(END) Dow Jones Newswires
March 07, 2018 15:28 ET (20:28 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.