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).