Kroger Co. stock KR, -0.32% jumped 2.5% in premarket trade Thursday, after the supermarket chain posted better-than-expected third-quarter earnings and raised its full-year guidance. The company, which is attempting to merge with Albertsons Cos. Inc. ACI, -0.05% in a deal that has met with resistance from lawmakers on competitive grounds, posted net income of $398 million, or 55 cents a share, for the quarter, down from $483 million, or 64 cents a share, in the year-earlier period.
Adjusted per-share earnings came to 88 cents, ahead of the 83 cent FactSet consensus. Sales rose to $34.2 billion from $31.9 billion a year ago, also ahead of the $83.9 billion FactSet consensus. Same-store sales were up 6.9%, while FactSet was expecting a rise of 4.0%. The company is now expecting full-year same-store sales to range from 5.1% to 5.3% and for EPS to range from $4.05 to $4.15. The FactSet consensus is for EPS of $4.09. Shares have gained 8.
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Kroger, Albertsons CEOs Defend Grocery Merger at Senate HearingThe CEOs of the Kroger and Albertsons supermarket chains defended their proposed $20 billion merger at a Senate subcommittee hearing Tuesday, and vowed to keep prices low and protect workers’ jobs if the deal passes Yeah right And shareholders *cough* hedgefunds *cough* will get the gold. And they're defending it? No shame, when you also line pockets.. Many price in conect with distributors
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »
Unions say Kroger-Albertsons merger, if approved, would hurt consumers and grocery workersUnion officials criticized the planned merger of Kroger and Albertsons in a deal worth nearly $25 billion. ya van a empezar con sus mamadas? chingado, puro pinche mitote. anything unions say is always propaganda. Same as politicians. I agree a 1000%
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Kroger-Albertsons merger deal draws suspicion from lawmakersSenators raised questions about the prospect of higher food prices, stifled competition and an expansion of so-called “food deserts” where supermarket access is scarce.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »
Kroger, Albertsons leaders believe merger will reduce prices for consumers, experts aren't so sureThe Senate Judiciary Committee's Antitrust panel questioned the leaders about the $25 billion deal for Kroger to purchase Albertsons stores. So it’s ok for Walmart and Amazon to have monopolies but not Kroger?!? Wow! That’s something! Maybe Walmart will have competition? HEB is where it’s at
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Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern.
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