The Kroger Company (KR), one of the largest grocery retailers, came out with fourth-quarter fiscal 2014 results, wherein earnings of $1.04 per share beat the Zacks Consensus Estimate of 89 cents, and surged 33.3% from the prior-year quarter.
The Cincinnati-based Kroger now projects fiscal 2015 earnings between $3.80 and $3.90 per share. The current Zacks Consensus Estimate for fiscal 2014 is $3.70, which could witness an upward revision in the coming days.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2014 and 2015 has been portraying an uptrend over the past 30 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 8.8%.
Revenues: Kroger generated total revenue of $25,207 million that increased 8.5% year over year, and came ahead of the Zacks Consensus Estimate of $25,048 million.
Zacks Rank: Currently, Kroger carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Kroger’s shares are up nearly 4.1% during pre-market trading hours following the earnings release. Clearly, a positive sentiment is palpable among investors following the company’s better-than-expected results.
Check back later for our full write up on Kroger’s earnings report!
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