Kroger Reports Third Quarter EPS of $.32

The Kroger Co. KR today reported total sales, which include fuel, increased 5.9% to $18.7 billion in the third quarter of fiscal 2010 compared with $17.7 billion for the same period last year. Excluding fuel sales, total sales increased 3.1% in the third quarter, which ended November 6, 2010, over the same period last year. Identical supermarket sales, without fuel, increased 2.4% in the third quarter over the same period last year. Net earnings for the third quarter of fiscal 2010 totaled $202.2 million, or $0.32 per diluted share. In the third quarter of fiscal 2009, Kroger reported a net loss of $874.9 million, or $1.35 per diluted share. The fiscal 2009 results included non-cash asset impairment charges totaling $1.05 billion, after tax, that primarily resulted from a goodwill write-down. Excluding these impairment charges, net earnings for the quarter would have been $176.7 million, or $0.27 per diluted share (Table 6).