“We feel good about our net earnings per diluted share and ID sales results in the second quarter. We expect our investments in space optimization during the first half of 2018 to become a tailwind late in the third quarter,” said Kroger chairman and CEO Rodney McMullen.
But the sales didn’t reach Wall Street’s expectations, increasing 1 percent to $27.9 billion overall and up 1.6 percent in comparable stores.
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“We are only two quarters into our three year Restock Kroger plan, and we are making solid progress,” McMullen said.
This is the opposite reaction Wall Street had to Kroger's first quarter report, when shares surged 11 percent following a profit of $2.03 billion, mainly on the sale of its convenience store unit.
Kroger employs 8,100 associates in the Dayton region with 44 supermarkets, 12 locations with ClickList services and another 10 locations with Starbucks services.
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