• June 23, 2009

The Kroger Co. says both sales and profits are up, as customers continue to hunt for value. The Cincinnati-based supermarket chain says its net income climbed to $435.1 million for the first quarter of its fiscal year, while same-store sales (excluding gasoline) gained 3.9%. (Because fuel prices are some 41% lower than they were last year, total sales at the chain declined to $22.8 billion, from $23.1 billion for the same period last year.)

"Customers continue to look for value, and Kroger is helping them save money by offering a unique combination of products and services," CEO David B. Dillon says in a release. "By paying close attention to the changing needs of today's shoppers, Kroger continues to refine what it offers customers through lower prices, friendly service and innovative stores."

The company reaffirmed its expectations that same-store sales will gain between 3% and 4%, not including fuel, for fiscal 2009.--Sarah Mahoney