Kroger (KR) Extends Losses on Net Loss Fall, Weak Outlook

Core Viewpoint - The Kroger Co. has reported a significant net loss and lowered sales guidance, leading to a decline in stock performance and investor sentiment [1][2][3]. Financial Performance - Kroger experienced a net loss of $1.32 billion, a stark contrast to a net income of $618 million in the same period last year [2]. - Total sales reached $33.8 billion, remaining flat compared to $33.6 billion year-on-year. Excluding fuel and Kroger Specialty Pharmacy, sales increased by 2.6 percent [2]. Future Outlook - The company has provided a weak outlook for key growth metrics, projecting identical sales without fuel to grow by 2.8 percent to 3 percent, down from a previous estimate of 2.7 percent to 3.4 percent [4]. - Operating profit guidance remains unchanged at a range of $4.8 billion to $4.9 billion, while earnings per share have slightly increased to a range of $4.75 to $4.80, compared to at least $4.70 previously [4].