Kroger Company (NYSE:KR) shares traded higher on Thursday after reporting second-quarter earnings.
The company reported second-quarter adjusted earnings per share of $1.04, beating the analyst consensus estimate of 99 cents. Quarterly sales of $33.94 billion, marginally missing the consensus view of $34.102 billion.
Following the results, Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating, with a price forecast of $82.
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The identical sales, excluding fuel, increased by 3.4%, compared to a 1.2% increase last year.
“Kroger’s second quarter results reflect continued momentum in our business. Sales growth has been strong, led by pharmacy, eCommerce and Fresh, and we are encouraged by the improvement in grocery …