March 2, 2023
Kroger reported its December quarter results this morning, providing insight into the grocery market and consumer behavior.
Summary
Kroger's comps (+6.2%) came in ahead of expectations and digital sales (+12%) accelerated for the second quarter in a row. Management reiterated its commitment to its Leading with Fresh, Accelerating Digital strategy which it believes will serve it well regardless of the macroeconomic backdrop. The company expects 2023 comps of 2.5-3.5% excluding the impact from cancelling its Express Scripts partnership.
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