Kroger’s Q3 rounds out 10 years of positive sales - The Packer

Kroger’s Q3 rounds out 10 years of positive sales

12/05/2013 04:27:00 PM
Pamela Riemenschneider

Kroger Co. posted a 3.5% increase in same store sales in the third quarter of 2013, capping off 40 consecutive quarters of positive sales growth for the Cincinnati-based retailer.

“It is not simply the scorecard that makes this meaningful, although 10 full years without skipping a beat is extraordinary,” said David Dillon, chairman and chief executive officer during the company’s earnings call Dec. 5. “For retailers, identical sales are the strongest indication of whether or not we are connecting with customers over time.”

Positive sales were company-wide, said Rodney McMullen, president, chief operating officer and director, during the call.

“These sales were exceptionally strong in produce and natural foods,” he said, during the call. “These gains confirm that our customer first investments in our products are working as intended and creating sustainable competitive advantages for Kroger.”

The Harris Teeter merger also is on track to close as scheduled, said J. Michael Schlotman, chief financial officer and senior vice president, during the call.

“Both Kroger and Harris Teeter are having productive conversations with the FTC (Federal Trade Commission) staff,” he said, during the call. “We believe we are still on track to close the transaction before the end of Kroger’s fiscal 2013.”

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