Kroger rings up some solid sales figures

The Kroger Co has reported net earnings of $190.4 million for the fiscal second quarter ended Aug 16, 2003. Net earnings in the year-ago period were $264.0 million for the Cincinnati OH-based retail grocery chain. Total sales for the second quarter of fiscal 2003 increased 3.6% to $12.4 billion.

For the first two quarters of fiscal 2003, sales rose 3.7% to $28.6 billion. Net earnings for the period totaled $541.9 million, compared with fiscal 2002 comparable-period net earnings of $569.3 million.

Over the past four quarters, Kroger's cash flow has enabled it to repurchase $532 million in stock, reduce net total debt by $208 million, and invest $2.0 billion in capital projects.