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Kroger (NYSE:KR) shares are trading over 4% up in pre-market trading after the retailer offered an upbeat full-year forecast.
Kroger reported Q4 EPS of $0.99 on revenue of $34.8 billion, which compares to the average analyst estimate for earnings of $0.90 per share on sales of $35.01B. Sales rose 5.4% year-over-year as identical store sales jumped 6.2%, beating the expected 5.2% increase.
“Kroger achieved exceptional results in 2022 as we executed on our Leading with Fresh and Accelerating with Digital strategy, building on record years in 2020 and 2021,” said Chairman and CEO Rodney McMullen.
The company expects to see identical store sales increase 1-2% for its fiscal year. The adjusted EPS is seen in the range of $4.45-4.60, easily ahead of the consensus of $4.17.
Vital Knowledge analysts said Kroger delivered “solid” results while the guidance is described as “decent.”
