Kroger maintains annual targets despite quarterly profit beat, shares slip


Supermarket chain Kroger (KR.N) in a cautious move on Thursday reaffirmed its annual forecasts after it beat Wall Street estimates for first-quarter profit and same-store sales on steady demand for essentials and easing supply chain costs.

“Investors wanted to see a forecast raise,” said Telsey Advisory Group analyst Joseph Feldman, adding there was hope that Kroger could have performed a bit stronger considering robust grocery sales seen at some of its competitors.

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