New York City The Kroger Co. reported Tuesday that its fourth-quarter profit rose 8%, boosted by a strong increase in sales of store brands.
Net income for the quarter rose to $349.2 million, from $322.9 million in the previous year.
Approximately 27% of Kroger's fourth-quarter grocery revenue came from sales of its exclusive Kroger brands, which reached a record-high 35% of grocery unit sales.
For the fiscal year that ended Jan. 31, Kroger said profit rose 6%, from $1.18 billion to $1.25 billion. Total sales rose 8% to $76 billion for the year.
Kroger operates 2,481 supermarkets and multi-department stores in 31 states, under two dozen local banners that include Ralphs, Fred Meyer, Food 4 Less, Fry's, King Soopers, Smith's, Dillons, QFC and City Market.