Kroger (KR) surges 9.8% with optimistic sales growth outlook

Kroger Co. (NYSE: KR) is one of them 10 shares closed trading week surge, Wall Street range.

Kroger rose 9.84% on Friday, closing at $71.97 each as investors sentiment was supported by its optimistic sales outlook despite macroeconomic uncertainty.

In a statement, David Kennerley, Chief Financial Officer of Kroger Co. (NYSE: KR), said that management raised the same sales guidance, up 2.25% to 3.25%, due to the first quarter of the year’s sales results, without being affected by fuel.

However, the outlook for the other factors remained the same. Net income per share was reconfirmed in the range of $4.6 to $4.8, while capital expenditures were fixed between $3.6 billion and $3.8 billion.

Customers purchasing items at grocery store checkout counters.

In the first quarter of this year, Kroger Co. (NYSE: KR) fell 8.5% to $866 million, down 8.5% from $947 million in the same period last year. Sales remained flat at $45 billion.

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Disclosure: None. This article was originally published Insider Monkey.