UPDATE: Kroger Increases Fiscal 2011 EPS Guidance

Kroger KR updated its identical supermarket sales and earnings guidance for fiscal 2011. The company now expects identical supermarket sales growth, excluding fuel, of 3.5% to 4.5% for the year. The previous guidance range was 3% to 4%. For the full year, Kroger increased its earnings guidance to $1.85 to $1.95 per diluted share. Based on the current operating environment, the company expects to achieve results near the top end of this range. The increase reflects the strength of the company's first quarter results and the higher estimated LIFO charge. The original guidance was $1.80 to $1.92 per diluted share.