Kroger's revenue last quarter was $41.3 billion, and digital sales grew 108% year-over-year

Recently, Kroger said that its net sales totaled $41.3 billion in the quarter ended May 22, down 0.6% from $41.55 billion in the same period last year . Its first- quarter sales (excluding fuel) fell 4.0% compared with the same period last year.

Founded in Ohio in 1883 , the company is the largest supermarket chain in the United States by revenue. In addition, it is the third largest retailer in the world and the third largest employer in the United States.

The company noted that despite tough year-over-year comparisons , sales have been up since the COVID-19 pandemic hit, reporting a 14.9% year-over-year increase in first-quarter 2021 sales, excluding fuel .  

In the same period last year, the company's sales increased 11.5%, driven by consumer demand driven by the epidemic . In the fourth quarter of 2021, vehicle sales excluding gasoline fell 4.1%, compared with a 19% increase in the same period last year.

During the quarter, Kroger 's digital sales were up 16% since the first quarter of last year and 108% since the first quarter of 2019.

The company's total sales for the quarter were $41.3 billion, compared to $41.5 billion in the first quarter of last year. Operating profit for the quarter was $805 million, while its earnings per share (EPS) was $0.18, and its gross margin was 22.6% of sales.

The company's adjusted EPS for the quarter was $1.19, a compound annual growth rate of 28.6% compared to 2019.

"Thanks to our relentless focus on leading with freshness and accelerating digitally , Kroger is even better at connecting with customers than before the pandemic," said Rodney McMullen, chairman and CEO of The Kroger Company. " Customers are responding to our investments in digital, as evidenced by our triple-digit growth in digital sales since the beginning of 2019."

During the quarter, the company introduced 253 products, including seasonal fresh items and produce, and expanded its digital services to 2,233 pickup points and 2,488 delivery points.

Back in April , Kroger announced that it aims to double digital sales by the end of 2023. The company has been continually improving its digital sales capabilities and boosting its earnings forecasts.

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