The Kroger Co. (Cincinnati) reported total sales, including fuel, grew 11 percent to $27.5 billion in the first quarter of fiscal 2011, ended May 21, 2011. Total sales, excluding fuel, grew 4.8 percent over the same period last year.
Identical supermarket sales, without fuel, were up 4.6 percent in the first quarter over the same period last year.
“Our Customer 1st strategy is clearly connecting with customers,” says David Dillon, Kroger's chairman and ceo. “We have shown that our focus on people, products, prices and the shopping experience is meaningful to customers through both good and challenging times.”
As a result, the grocery chain operator adjusted its identical supermarket sales and earnings guidance for fiscal 2011, with expectations of sales growth of 3.5 to 4.5 percent. “Our guidance for the year reflects the balance we strive to achieve across our business – including strong identical sales growth and outstanding cost control, as well as increased earnings and earnings per share,” says Dillon.
Kroger operates 2449 supermarkets and multi-department stores in 31 states under two dozen banner names, including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's.