Kroger 3Q Profit Up 16%
Cincinnati, Kroger Inc. on Tuesday said third-quarter net income rose 16%, as established stores turned in a solid performance. Net income for the quarter ended Nov. 4 climbed to $214.7 million compared with net income of $185.4 million. Kroger said revenue gained 5% to $14.70 billion, from $14.02 billion last year. Analysts predicted revenue of $14.86 billion. Comp-store sales increased 4.9% including gasoline sales and 5.3% excluding fuel sales.
For fiscal 2007, the company sees earnings per share growth between 6% and 8%.
Ann Taylor Comp-Store Sales Down 4.3%
New York City, Ann Taylor Stores Corp. on Thursday said comp-store sales declined 4.3% in November. For the four weeks ended Nov. 25, the company’s flagship Ann Taylor stores posted a 3.4% decline in comp-store sales, while its Ann Taylor Loft stores posted a 7.7% decline.
In the year-ago period, the stores posted comp-store sales gains of 18.6% and 10.2%, respectively. Total monthly sales increased 2.1% to $186.4 million from $182.5 million a year ago. By segment, Ann Taylor stores contributed $73.3 million in sales, while Ann Taylor Loft stores generated $86.2 million.