Ahead of its investor event on Wednesday, Kroger Co. KR, -2.86% reiterated its full-year 2021 guidance for an identical sales decline of 3% to 5% and earnings per share of $2.75 to $2.95. The FactSet consensus is for an identical sales decline of 4% and EPS of $2.80. The grocery retailer outlined plans for shareholder return of 8% to 11% and net earnings growth of 3% to 5% through a number of strategies, including fresh food sales increases, accelerating digital, which the company says is now a growth engine, and wider competitive moats, such as continued innovation in its private label Our Brands. COVID-19 drove a surge in online grocery, with competitor Albertsons Cos. Inc. ACI, -0.56% announcing Tuesday that it has partnered with Google GOOG, +0.78% GOOGL, +0.80% on a number of digital initiatives. Kroger stock has gained 26.4% over the past year while the S&P 500 index SPX, +0.47% is up 53.2% for the period.
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