08:33 AM EDT, 06/20/2024 (MT Newswires) -- Kroger ( KR ) reported fiscal Q1 adjusted net earnings Thursday of $1.43 per diluted share, down from $1.51 a year earlier.

Analysts polled by Capital IQ expected $1.37.

Sales for the quarter ended May 25 were $45.27 billion, up from $45.17 billion a year earlier.

Analysts surveyed by Capital IQ expected $45.12 billion.

The retailer said it continues to anticipate fiscal 2024 adjusted net earnings of $4.30 to $4.50 per diluted share.

Analysts polled by Capital IQ expect $4.43 per share.

Kroger ( KR ) said it is pausing its share buyback plan to focus on reducing debt after the proposed merger with Albertsons (ACI).

Kroger's ( KR ) shares were up more than 3% in recent Thursday premarket activity, while Albertsons was 1.6% higher.

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