Kroger Q1 income up nearly 16%
New York City -- Kroger Co. reported double-digit jumps in first-quarter revenue and net income, as the chain's fuel stations and loyalty discounts helped draw more frequent shoppers.
Kroger said net income rose to $432.3 million, up nearly 16% from $373.3 million, or 58 cents per share, a year ago. Revenue rose 11% to $27.5 billion. Same-sales rose 4.6%, excluding fuel sales.
Kroger has steadily expanded its gas business, now with more than 1,000 store gas stations at its nearly 2,500 stores.