Kroger (NYSE:KR) is reporting its quarterly earnings figures later today, with the company’s profit slated to slide year-over-year, while comps are on the rise.
The grocery store chain is projected to amass fourth-quarter earnings of 54 cents per share on a GAAP basis, or 52 cents per share on an adjusted basis when excluding certain items, according to a survey of analysts conducted by FactSet. This would be a 17.5% decline from the company’s adjusted earnings from the year-ago quarter, assuming it meets the Wall Street guidance.
Sales are expected to come in at $28.4 billion if Kroger meets analysts’ estimate for the period, which would equal a decline of approximately 8.4% when compared to its $31 billion in revenue from the fourth quarter of fiscal 2017. Same-store sales are slated to be 1.8% higher when compared to the year-ago period.
KR stock is down about 0.9% on Friday in anticipation of the grocery chain’s results. Shares have been up roughly 4% throughout the current year.