 |
|
 
|
|
|
Sign up now for your FREE subscription to the interactive digital magazine.
|
|
Same-stores sales continued to grow through fiscal 2009
The Kroger Co. (Cincinnati) reported total sales, including fuel, increased 7.2 percent to $18.6 billion in the fourth quarter of fiscal 2009. Excluding fuel sales, fourth quarter total sales increased 2.0 percent with same-store sales rising 1.2 percent.
“The Kroger team delivered solid fourth quarter results for both our customers and our shareholders during what continues to be a difficult operating environment,” says David Dillon, Kroger’s chairman and ceo.
For fiscal year 2009, the nation’s largest supermarket operator reports total sales grew 0.8 percent to $76.7 billion. Excluding fuel sales, total sales for fiscal 2009 rose 2.9 percent as same-store sales increased 2.1 percent. During the year, Kroger invested $2.15 billion in capital projects, excluding acquisitions and purchases of leased facilities.
Looking ahead, Kroger anticipates identical supermarket sales growth, excluding fuel, to grow 2 to 3 percent in 2010. The company says several factors, including inflation or deflation in product and operating costs, the competitive environment, fluctuating fuel margins, and the pace of the economic recovery, will continue to impact business through 2010. “During a year that proved to be extremely trying, Kroger successfully achieved positive identical sales growth, increased the number of households loyal to Kroger stores, and generated strong tonnage growth,” says Dillon. “In addition, we reduced debt, increased the dividend we pay shareholders and prudently invested capital to keep our stores fresh and innovative.”
Kroger operates more than 2400 supermarkets and multi-department stores in 31 states under two dozen local banner names, including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry’s, King Soopers, QFC, Ralphs and Smith’s. The company also operates 777 convenience stores, 374 fine jewelry stores, 893 supermarket fuel centers and 40 food processing plants in the U.S.
Did you enjoy this article? Click here to subscribe to the magazine.
