March 7, 2019 / 12:55 PM / 3 months ago

Kroger fourth-quarter profit slides as investments weigh

March 7 (Reuters) - Kroger Co’s quarterly profit fell as the supermarket chain spends heavily new technology and delivery services to better compete with Walmart and Amazon.

Cincinnati-based Kroger said on Thursday net income fell to $259 million or 32 cents per share in the fourth quarter ended Feb. 2, from $854 million or 96 cents per share a year earlier.

Its same-store sales, excluding fuel, rose 1.9 percent. Analysts on average had expected a 1.81 percent increase, according to IBES data from Refinitiv. (Reporting by Nivedita Balu in Bengaluru; Editing by Sai Sachin Ravikumar)

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