Kroger Co (NYSE:KR) shares are trading higher after the company reported better-than-expected first-quarter EPS and sales results and raised FY21 guidance. The company also announced a $1 billion buyback.
Kroger reported quarterly earnings of $1.19 per share, which beat the analyst consensus estimate of $1.01 per share. Kroger also reported quarterly sales of $41.30 billion, which beat the analyst consensus estimate of $39.78 billion.
Kroger is the leading American grocer, with 2,742 supermarkets operating under several banners throughout the country as of the end of fiscal 2020. Around 82% of stores have pharmacies, while over half also sell fuel. Kroger also operated more than 150 fine jewelry stores at the end of fiscal 2020.
The stock was up 5.17% to $39.49 at publication time.
