Kroger (KR) Disappoints

Kroger (NYSE: KR) reported disappointing 2Q earnings and 2009 full year guidance. Because of this the stock is down 8.3% in midday trading to $20.30.

Other grocers including Safeway (NYSE: SWY) and Supervalu (NYSE: SVU) are also down 4.4% and 2.8% respectively today in sympathy.

Kroger 2Q earnings were $0.39 vs. a $0.44 estimate, and 2009 guidance was $1.95/share vs. a $2.05/share estimate.

Year to date Kroger is down 24% vs. the S&P 500 16% increase.