BUZZ-Kroger edges higher after annual sales forecast raise, upbeat quarter

Reuters
06-20
BUZZ-Kroger edges higher after annual sales forecast raise, upbeat quarter

** Shares of U.S. grocery chain Kroger KR.N up 1.3% at $66.38 premarket

** Raises full-year identical sales growth forecast to 2.25% to 3.25%, from 2% to 3% earlier

** Maintains annual adjusted EPS expectations, with new CFO David Kennerley noting "uncertain" macroeconomic environment

** Q1 identical sales growth and adjusted EPS beats analysts' expectations- data compiled by LSEG

** Says strong performance in pharmacy, ecommerce and fresh segments helped the quarter

** Records an impairment charge of $100 million related to closing of ~60 stores over next 18 months

** Up to last close, stock up 7.2% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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