Kroger registers solid sales, earnings gains

The Kroger Co said its total sales increased 5.9% to $12.9 billion for the third quarter ended Nov 6, 2004. Net earnings totaled $142.7 million, compared with $110.2 million for the third quarter of 2003.

Kroger opened, expanded, relocated or acquired 30 food stores; remodeled 33 stores; and closed 20 stores in the quarter. Total food store square footage advanced 1.2% over the prior year. Debt at the end of the third quarter totaled $7.8 billion, a $607.0 million decrease versus a year ago.

For the first three quarters of fiscal 2004, sales rose 4.9% to $42.7 billion; net earnings were $548.0 million. Net earnings were $652.0 million for the first three quarters of fiscal 2003.