Kroger Q3 profit slips 2%, but beats Street

Cincinnati -- Kroger Co. on Thursday raised its full-year forecast and also projected earnings growth for its next fiscal year that was ahead of long-term goals even as its profit slipped 2% in the third quarter.

The chain reported profit of $195.9 million profit for the quarter ended Nov. 5, down from $202.2 million a year earlier. Still, its results topped Wall Street expectations.

Revenue rose 10%, including fuel, to $20.59 billion from $18.7 billion in the year-ago period, and same-store sales gained 5%, without fuel. Analysts expected $20.4 billion in revenue.

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