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Kroger Cuts Forecast to 0.2%–0.8% Amid Inflation Headwind

By Drooid · · How we work

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Story summary
  • Kroger cut its full-year identical-sales forecast to 0.2%-0.8%.
  • CEO Greg Foran said the cut reflects a 140-basis-point headwind from the Inflation Reduction Act.
  • Second-quarter identical sales grew 0.2%.
  • Adjusted earnings per share were $1.09, topping analysts’ $1.06 expectation.
  • Shares fell about 1.5% pre-market after a 4.2% intraday drop Friday.