Kroger Q2 net income increases

Cincinnati Kroger Co. reported Tuesday that profit for the second quarter increased to $261.6 million, up from a profit of $254.4 million in the year earlier period.

Sales increased 6% to $18.8 billion, compared with $17.7 billion last year. Wall Street expected sales of $18.7 billion.

Same-store sales rose 2.7% excluding fuel sales.

Kroger operates 2,468 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger; City Market; Dillons; Jay C; Food 4 Less; Fred Meyer; Fry's, King Soopers; QFC; Ralphs and Smith's. The company also operates 784 convenience stores, 372 fine jewelry stores, 932 supermarket fuel centers and 40 food processing plants in the United States.    

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