Kroger Reports Third Quarter Sales Increase

The Kroger Co. (Cincinnati) reported total sales of $17.6 billion for the third quarter ended November 8, 2008, an increase of 9.0 percent over the same period last year. Same-store supermarket sales increased 5.6 percent without fuel and 7.8 percent with fuel compared with the same quarter last year.

“Kroger’s sales continue to be strong in this tough economy,” says David Dillon, Kroger chairman and ceo. “We know our customers are increasingly feeling pressured in today’s environment. Kroger’s focus on low prices, quality products and providing a convenient, one-stop solution for their daily needs is resonating with our customers.”

During the first three quarters of fiscal 2008, total sales increased 10.9 percent to $58.7 billion and same-store supermarket sales, excluding fuel, rose 5.4 percent. The company’s capital investment, excluding acquisitions, for the quarter totaled $603.9 million, compared to $555.3 million in the prior year. Capital projects during the third quarter included 14 new, expanded, or relocated stores and 55 remodels. The company expects to open, expand or relocate approximately 60 stores and complete between 165 and 180 store remodels during fiscal 2008.

Kroger, one of the nation’s largest retail grocery chains, operates 2477 supermarkets and multi-department stores in 31 states under two dozen local banners including Kroger, Ralphs, Fred Meyer, Food 4 Less, Fry’s, King Soopers, Smith’s, Dillons, QFC and City Market.