September 8, 2017 / 12:00 PM / 2 months ago

Kroger's profit dips 7.8 pct on aggressive price cuts

Sept 8 (Reuters) - Kroger Co, the biggest U.S. supermarket company, reported a 7.8 percent fall in quarterly profit on Friday as it discounted aggressively to fend off competition from Wal-Mart Stores Inc and other retailers.

Net earnings attributable to Kroger fell to $353 million or 39 cents per share in the second quarter ended August 12, from $383 million or 40 cents per share, a year earlier.

Sales climbed 3.9 percent to $27.60 billion. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Sai Sachin Ravikumar)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below