Kroger Fell Over 3% in Premarket Trading As Its Quarterly Same-store Sales Missed Estimates

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Kroger Fell Over 3% in Premarket Trading As Its Quarterly Same-store Sales Missed Estimates

Reuters2023-09-08

Kroger quarterly same-store sales missed market expectations on Friday in a sign that reduced spending by budget-conscious consumers and stiff competition due to higher discounts from rivals hurt volumes.

The Cincinnati, Ohio-based company posted a 1% rise in same-store sales for the second quarter. Analysts on average had expected a 1.26% rise, as per LSEG IBES estimates.

Stocks fell over 3% in premarket trading.

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