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  • Professor Andrea M. Armani, University of Southern California
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  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Kroger to Will Release Its Financial Results on Thursday in the First Quarter of Its Fiscal Year

In the first quarter of its fiscal year, Kroger (NYSE: KR) +0.12 percent will release its financial results on Thursday. The results offer an opportunity for the grocery chain to demonstrate to investors that it is taking full advantage of the industry’s favorable conditions.

Kroger is expected to earn $1.29 a share on $44.15 billion in sales for the quarter ending May 21, compared to $1.19 a share and $44.3 billion in revenue for the same time last year.

The S&P 500 SPX –0.38 percent and Kroger’s peers tracked by the SPDR S&P Retail ETF have both down by 22 percent, while Kroger shares are up over 11 percent this year (XRT).

There are a few factors at play here. When investors are worried about a prospective economic slump, supermarket businesses are considered a safe bet.

Second, even as the pandemic danger fades, individuals are still eating more meals at home, either to save money or because hybrid work patterns are becoming more prevalent. As a final point, Kroger and other supermarkets have been pretty effective in passing on price increases to customers.

However, despite the company’s recent gains, just a third of FactSet’s analysts are now rating the stock as a Buy or an equivalent, with an average price target of $56.

Even so, it’s an improvement over the same time a year earlier, when less than 20% of analysts were upbeat. Analysts believe that Kroger’s excellent private-label goods will help it continue to succeed, even as customers become more value-conscious in the face of persistently high inflation, which is expected to continue.

Because of this, investors are searching for evidence that Kroger is taking advantage of this moment of prosperity, rather than just resting on its laurels. Consumer reactions to recent increases in grocery prices may be examined, as well as if the industry’s level of discounts and promotions has stayed relatively benign.

The post Kroger to Will Release Its Financial Results on Thursday in the First Quarter of Its Fiscal Year appeared first on Best Stocks.

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