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Kroger (NYSE:KR) Issues FY 2026 Earnings Guidance
The grocer said second-quarter identical sales rose 0.2% and it now expects full-year growth of 0.2% to 0.8%, below its prior forecast.
- Kroger cut its annual identical sales forecast on Friday, now expecting growth between 0.2% and 0.8% compared to its prior projection of 1% to 2% rise.
- U.S. consumer sentiment weakened in August while retail sales unexpectedly declined in July for the first time in nine months, as middle- and lower-income households prioritize value purchases amid persistent Inflation.
- Second-Quarter identical sales growth slowed to 0.2% from 3.4% a year ago, missing estimates of 0.9% growth, though Kroger posted adjusted quarterly profit of $1.09 per share versus the $1.06 estimate.
- Kroger's updated sales forecast includes a roughly 140-basis-point headwind from the Inflation Reduction Act, which lowered prescription drug prices for Medicare beneficiaries; shares fell about 3% in premarket trading.
- Retail bellwether Walmart reported a rare quarterly sales miss last month, marking its slowest sales growth in six years, adding pressure on CEO Greg Foran as industry headwinds intensify.
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Kroger cuts annual sales forecast as consumer spending sputters
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
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