Sales were up for retail giant The Kroger Co. in the second quarter of 2018, and the company expects sales 2 to 2.5 percent sales growth for the balance of 2018.
Total sales at Cincinnati-based Kroger totaled $27.9 billion in the quarter, up 1 percent from the same quarter a year ago.
Kroger also reported net earnings of $508 million, or 62 cents per diluted share, in the quarter, which ended Aug. 18.
For the first half of 2018, Kroger’s adjusted net earnings per diluted share were slightly ahead of the company’s expectations due to the success of its Restock Kroger initiative, says Rodney McMullen, Kroger’s chairman and CEO.
"We are only two quarters into our three-year Restock Kroger plan, and we are making solid progress,” McMullen says. “Kroger customers have more ways than ever to engage with us seamlessly through our recently-launched Kroger Ship, expanded availability of Instacart, successful ClickList offering, and selling Simple Truth in China through Alibaba's Tmall.”