March 6 (Reuters) - Kroger ( KR ) on Thursday forecast
annual same-store sales largely above Wall Street estimates,
fueled by steady grocery demand as value-conscious shoppers
prioritize staples such as fresh fruits and vegetables.
The results follow an abrupt ouster of long-time chief
Rodney McMullen earlier this week, after a board investigation
found that his personal conduct was "inconsistent" with certain
company policies. The board has appointed lead director Ronald
Sargent as interim CEO.
The supermarket chain posted a 2.4% rise in fourth-quarter
identical sales, excluding fuel, helped by stronger demand
during the holiday season. Analysts had estimates a 1.96% rise,
according to data compiled by LSEG.
The company expects growth in full-year identical sales,
excluding fuel, in the range of 2% to 3%, compared with
analysts' average estimate of a 1.96% rise, according to data
compiled by LSEG.
It projected adjusted earnings of $4.60 to $4.80 per share,
compared with estimates of $4.79 per share.