Kroger Shares Up 11% After Guidance, Buyback Program

Date : 11/05/2019 @ 6:02PM
Source : Dow Jones News
Stock : Kroger Co (KR)
Quote : 28.15  0.07 (0.25%) @ 12:59AM
After Hours
Last Trade
Last $ 28.22 ▲ 0.07 (0.25%)

Kroger Shares Up 11% After Guidance, Buyback Program

Kroger (NYSE:KR)
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By Michael Dabaie

 

Kroger Co. (KR) shares were up 11% to $27.74 in heavy volume around midday.

The retailer is holding its Investor Conference. Kroger backed its 2019 adjusted earnings per share forecast of $2.15 to $2.25. Kroger said it sees 2020 adjusted EPS of $2.30 to $2.40.

Kroger also backed its 2019 identical sales growth forecast of 2% to 2.25%. The company said it sees 2020 identical sales growth, excluding fuel, to be greater than 2.25%.

The company said its board approved a $1 billion share repurchase program, replacing the existing authorization that has about $546 million remaining.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

November 05, 2019 12:47 ET (17:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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