Kroger, Country's Largest Supermarket Chain Tops Forecasts

TheStreetJune 19, 2014

Kroger blew past Wall Street's earning expectations Thursday. The nation's largest supermarket hit an all-time high on the news. Kroger (KR) earned $1.09 a share, four cents better than Wall Street expectations. The chain also raised its earnings forecast for the year and increased its full-year guidance for sales at established locations. But despite today's impressive earnings, not everyone is a fan of the stock. TheStreet's Susannah Lee spoke with Bob Summers of Susquehanna Financial Group, who is holding his 'sell' rating. Summers says the macro economic environment is not favorable for the entire sector including Kroger.