News Brief

Kroger Profits Fall, Sales Gain

The nation's largest supermarket chain, says that despite an 8.7% gain in sales in its first quarter to $24.8 billion, profits at the supermarket chain fell to $373.7 million, from $435.1 million in the same period a year ago.

Not including gasoline sales, total sales increased 3.1%, and on a same-store basis, sales gained 2.4%.

In a statement, chairman/CEO David B. Dillon says that despite "the difficult operating environment," the company stayed focused on its "Customer 1st" strategy, "and as a result, the total number of families we serve continues to grow and our most loyal customers are buying more with us."

The Cincinnati-based company says it continues to expect identical supermarket sales, excluding fuel, to gain between 2% to 3% for the year.

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