Kroger earnings increase 16% in '06
March 13, 2007
by FoodBusinessNews.net Staff
CINCINNATI — Kroger’s net earnings for fiscal year 2006 were $1,114,900,000, equal to $1.56 per share on the common stock, up 16% from $958,000,000, or $1.31 per share, in fiscal 2005.
Total sales also increased in 2006, climbing 9% to $66,111,200,000 from $60,552,900,000 in 2005. Fiscal 2006 results included an extra week. When adjusted for sales during the 53rd week in 2006, sales increased 7% from 2005.
"Kroger delivered consistently strong results during 2006, exceeding our original guidance for both identical supermarket sales and earnings per share," said David B. Dillon, Kroger chairman and chief executive officer. "These results and the gains we have made in market share throughout the year indicate that Kroger continues to compete effectively in this challenging environment."
For the fourth quarter of 2006, net earnings were $384,800,000, or 55c, up 36% from $282,100,000 or 39c, in the same quarter of the previous year.