This post was originally published on this sitehttps://i-invdn-com.akamaized.net/news/LYNXMPEBB20UQ_M.jpg
Investing.com – Supermarket Kroger (NYSE:) jumped on Tuesday after the grocer announced that it expects same-store sales to grow more than 2.25% for the year and its profit forecast topped analysts’ estimates.
The company also announced a $1 billion share buyback program, which would replace an existing share repurchase plan. The grocer reaffirmed its 2019 guidance of earnings per share of $2.15 to $2.25. Shares of the company, whose stock has faced recent pressure, jumped 11% in midday trade.
Kroger has faced competition from lower-priced discount stores and the rise of e-commerce giant Amazon (NASDAQ:) in the fresh-food delivery space.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.