Kroger profit up 23 percent

Thursday, Sept. 20, 2001 | 10:47 a.m.

CINCINNATI -- The Kroger Co., the nation's largest supermarket operator, said Wednesday second-quarter earnings rose 23 percent.

Kroger owns Smith's Food & Drug Centers and Food 4 Less stores in Las Vegas.

Kroger earned $255.7 million, or 31 cents per share for the quarter ended Aug. 18, compared with $208 million, or 25 cents a share, during the second quarter a year ago. Sales were up 4.2 percent at $11.48 billion, compared with $11.02 billion for the previous second quarter.

Excluding a one-time merger-related charge, earnings were 32 cents a share, matching the consensus forecast of analysts surveyed by Thomson Financial/First Call.

Kroger shares closed down $1.51 to close at $24.53 on the New York Stock Exchange.

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