Supermarket chain Kroger


(Reuters) – Supermarket chain Kroger Co (KR.N) reported quarterly net sales that beat analysts’ estimates, but issued a disappointing full-year profit forecast, sending its shares down 7 percent in premarket trading.

FILE PHOTO: A logo of Kroger is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson

Sales rose to $31.03 billion from $27.61 billion in the fourth quarter ended Feb. 3.

Analysts had expected sales of $30.83 billion, according to Thomson Reuters I/B/E/S.

Net earnings attributable to Kroger rose to $854 million, or 96 cents per share, from $506 million, or 53 cents per share, a year earlier.

The company said it expects full-year 2018 earnings of $1.95 per share to $2.15 per share, largely below the $2.15 analysts on average were expecting.

Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila

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