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twitterProfit rises for owner of Smith’s, PriceRite
Thursday, June 22, 2000 | 11:04 a.m.
CINCINNATI -- Kroger Co.'s earnings before one-time charges climbed 20 percent in its first quarter, lifted by strong sales of private label products that it manufactures itself.
The nation's largest grocery chain said it earned $276.5 million, or 33 cents per share, before charges in the quarter that ended May 20 compared with $231 million, or 27 cents a share, a year ago.
The results were 2 cents a share higher than analysts surveyed by First Call/Thomson Financial had expected.
Sales increased 6.2 percent to $14.3 billion from $13.5 billion.
In Las Vegas, Kroger owns Smith's Food & Drug and PriceRite markets.
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