Kroger raises its adjusted profit forecast for the year

Kroger Co. KR,
-7.50%
reported second-quarter net income of $ 467 million, or 61 cents per share, down from $ 819 million, or $ 1.03 per share last year. Adjusted EPS of 80 cents beat the FactSet consensus by 64 cents. Sales of $ 31.68 billion were up from $ 30.49 billion last year and also ahead of the FactSet consensus of $ 30.64 billion. Digital sales more than doubled, up 114%. Identical sales excluding fuel fell 0.6%, ahead of the FactSet consensus for a decrease of 3.2%. Over a two-year stack, identical sales increased 14%. Kroger raised its adjusted EPS forecast for the full year to $ 3.25 to $ 3.35, from $ 2.95 to $ 3.10 previously. The FactSet consensus is for EPS of $ 3.09. Kroger’s shares fell 1.4% in Friday trading ahead of the market, but have gained 45.3% for the year to date. The S&P 500 SPX index,
-0.77%
has increased 19.6% for 2021 so far.