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News Summary: Kroger raises outlook on strong 1Q

The Associated Press

THE HEADLINE: The Kroger Co. says its net income rose 1.6 percent in the first quarter, as stronger sales offset rising costs.

THE DETAILS: The nation's largest traditional grocery chain says sales at stores open at least a year grew 4.2 percent in the quarter. The metric is a key measure of health because it excludes the impact of newly opened and closed stores.

THE BIG PICTURE: The Cincinnati-based company raised its forecast for the year to $2.33 to $2.40 per share, up from the previous $2.28 to $2.38 per share. Analysts had expected $2.32 per share.