Ryan English, CFA, CPA, CFP® Quoted in the Cincinnati Business Courier about Kroger’s March sales growth

Ryan English spoke with Steve Watkins of the Cincinnati Business Courier about Kroger’s March sales growth.

Here is an excerpt from the story published on April 3:

Ryan English, investment manager and shareholder at Kenwood-based investment advisory firm Foster & Motley, said the jump is “massive, but not unexpected given that it was known Kroger would be a major beneficiary of the coronavirus restrictions.”

He pointed out Kroger management did not change its full-year forecasts, even in light of the 30% growth in March. It said in the filing there are too many unknowns, some cost-cutting measures have been put off and it expects volatile results as shopper behavior changes. As a result, it still expects full-year same-store sales excluding fuel sales of better than 2.25% and earnings per share of $2.30 to $2.40.

Click here to see what Ryan had to say (a subscription may be required).