Kroger (NYSE:KR) announced a higher quarterly profit on Thursday. The company earned $439.4 million, or 78 cents per share, for the first quarter versus $432.3 million, or 71 cents per share, in the same period last year. Sales, including fuel, rose 5.8 percent to $29.1 billion, meeting analyst forecasts.
Shares are higher by nearly 3.5 percent.
The grocery business is highly competitive and the company faces intense competition from big players, such as Supervalu (NYSE:SVU).
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