Kroger shares plunge after earnings, revenue miss

Kroger on Thursday reported quarterly earnings and revenue that fell short of analysts' expectations, sending its shares sharply lower in the premarket.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

The grocer reported fiscal fourth-quarter net income of $259 million, or 32 cents per share, down from $854 million, or 96 cents per share, a year earlier. Excluding items, Kroger earned 48 cents per share, missing the 52 cents per share expected by analysts surveyed by Refinitiv.Looking to fiscal 2019, the grocer is targeting identical sales growth, excluding fuel, between 2 percent and 2.25 percent. It expects to earn between $2.15 to $2.25 per share for the full year, a more optimistic range than expected by analysts. Wall Street was forecasting the company to earn $2.16 per share this year.

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If you have been to one you would know why. Low quality staff and unattractive stores. I went to their seafood department to a store in GA and asked for recommendation of shrimp. Attendant told me “I don’t know I don’t eat seafood.” 😳😳😳 🤦‍♂️ never been back sense!

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