Kroger is forecasting stronger growth in the years ahead, as the nation’s biggest traditional supermarket operator continues to transform the format of its stores to fend off competitors and keep up with changing shopping habits.
The Cincinnati-based company, which operates its namesake stores as well as Food 4 Less, Fred Meyer, Dillon’s and other chains, said the growth will be driven through expansion into new and existing markets, as well as improvement in its core business.
Over the long term, Kroger Co. expects earnings per share to grow 8 percent to 11 percent, up from the previous forecast of 6 percent to 8 percent. The company stood by its sales and earnings guidance for the fiscal year. To hang onto customers amid intense competition, Kroger has cut down on checkout wait times and has a loyalty program that offers customers discounts based on past purchases.