The Kroger Co. (NYSE: KR) announced financial results for the fourth quarter and fiscal year 2019. Kroger’s strategy utilizes free cash flow to invest in the business and drive growth while maintaining current investment grade debt rating and returning value to shareholders.
For the fourth quarter, digital sales grew 22% as the company documented an EPS of USD 0.40. Operating profit amounted to USD 537 Million. For the full year 2019, digital sales increased 29% while EPS reached USD 2.04. Operating profit for 2019 summed up to USD 2.3 Billion.
Comments from Chairman and CEO Rodney McMullen
“We are pleased with our 2019 results and improving trends in our supermarket business. We delivered on our commitments for ID sales without fuel, adjusted FIFO operating profit, and cost savings in addition to generating over $100 million of incremental operating profit through alternative profit streams in 2019. We also delivered strong adjusted free cash flow during the year, consistent with the total shareholder return model outlined at our Investor Day.
More importantly, the way that we delivered the year is consistent with our long-term financial model and sets us up to connect with customers in a deeper way. Restock Kroger is the right strategic framework to position the company for sustainable growth in the future, continue to improve the core business, and deliver strong total shareholder return. This transformational foundation supports our competitive moats today – Fresh, Our Brands and Personalization – as well as building a seamless ecosystem of the future.”
Written by Danny Abramov.
View the original article at here.