Kroger (KR) stock was up 6% at market open on Friday after the company raised its full-year sales forecast, held its profit outlook steady, and posted results for its most recent quarter that were mixed. The company is navigating an increasingly competitive environment with Walmart (WMT) and Costco (COST) gaining share in grocery.
In a note to clients, Joe Feldman of Telsey Advisory Group said, “We understand there is the absence of a permanent CEO right now, but we believe the company is in good hands” with both executives.
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