U.S. Markets closed

Here’s why Kroger stock is jumping

Steve Watkins
American City Business Journals

Kroger Co. surprised analysts by posting third-quarter earnings of 44 cents per share, up 7 percent from a year ago. Analysts had predicted Cincinnati-based Kroger (KR), the nation’s largest operator of traditional supermarkets, would earn 40 cents, according to Zacks Investment Research Inc. Its earnings were up from the 41 cents per share it earned in the year-ago quarter. Kroger’s sales, which rose 4.5 percent to $27.75 billion, also topped Zacks consensus estimates of $27.31 billion.