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Tuesday, September 16, 2008

2Q Kroger Increase

Predicated on sales of its generic brands and gasoline discounts, Kroger has announced 2nd Quarter profit increases of 11.9% since this time last year. Kroger, the largest grocery chain in the United States, has benefited from the aforementioned sales and discounts to see its diluted share prices increase $0.38 to $0.42 over the past year along with its earnings $267.3 million up to $276.5 million in that same period.
David B. Dillon, Chairman and CEO, said "The results for the period were strong as we continued to generate cash flow to sustain our strong capital program and reduce outstanding shares."
Dillon also expects the second half of the fiscal year to be a success as well due to the companies core grocery operations. As the largest grocery retailer in the country, it should be interesting to see how they are effected due to the downturn in the U.S. economy.