The Wichita Business Journal reports that Kroger Co.'s fourth quarter 2009 profit slipped 27%, but the grocer still finished above Wall Street’s outlook for both quarterly sales and net income.
Kroger posted fourth-quarter net income of $255 million, compared to $349 million in the year-ago quarter. Sales rose 7%, to $18.6 billion from $17.3 billion. Analysts, on average, had expected sales of $17.7 billion.
Kroger is the parent company of Hutchinson-based Dillons grocery stores.
For the full year, Kroger's net earnings dropped to $70 million, from $1.2 billion in 2008. Sales were up slightly, to $76.7 billion, from $76.1 billion.
Cincinnati-based Kroger operates more than 2,400 supermarkets and multi-department stores in 31 states.
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