Kroger reports second quarter results

The convenience and fuel retailer reports net earnings of $383 million, down from the $433m it earned in the same period last year.

“We are focused on long-term performance over a three-to-five year horizon. We have the right strategy, the right people, and the financial flexibility to execute our strategy, which allows us to continue investing in our associates and our business and growing market share,” said Chairman and CEO Rodney McMullen.

The Kroger Family of Companies operates a total of 2,781 retail stores that include 785 convenience stores and 1,423 supermarket fuel centres, according to the company.

Kroger's long-term financial strategy is to use financial flexibility to drive growth while also returning capital to shareholders.

Gross margin was 22.1% of sales for the second quarter.