80°

Topics

Harris Teeter, Inc.
Kroger quarterly profit beats estimates; Harris Teeter merger cited
Kroger quarterly profit beats estimates; Harris Teeter merger cited

Kroger Co. reported a 4% increase in first-quarter profit Thursday and raised its forecast for the year, crediting the acquisition of grocer Harris Teeter Supermarkets Inc. for its better-than-expected earnings. The nation's largest supermarket chain, based in Cincinnati, said it earned $501 million, or 98 cents per share, up from $481 million, or 92 cents, a year earlier. Sales rose 10% to $33 billion. The company said results were boosted by last year's $2.44-billion purchase of North Carolina grocery chain Harris Teeter. Kroger, which also owns Ralphs, Fry's, Food 4 Less and other chains, earned $1.09 per share excluding certain items, 4 cents higher than analysts...

Loading