CINCINNATI, OH - The Kroger Co. reported its third quarter 2024 results, narrowed its guidance range, and updated investors on how Kroger is positioned for long-term sustainable growth.

"Kroger achieved strong sales results in the third quarter led by our pharmacy and digital performance, which reflects the strength and diversity of our model," said Chairman and Chief Executive Officer Rodney McMullen. "We continued to grow total households this quarter by delivering exceptional value for customers, with low prices, personalized offers, and great quality Our Brands products, all through a seamless shopping experience. We appreciate our associates for their continued efforts to elevate the customer experience, delivering on our key priorities of full, fresh, and friendly."

McMullen continued, stating, "While we expect the macroeconomic environment to remain uncertain near-term, the strength of our model gives us confidence in our ability to deliver value for customers and invest in our associates while generating attractive and sustainable returns for shareholders."

Kroger shared the following third quarter highlights in a recent press release:

• Identical Sales without fuel increased 2.3 percent
• Operating Profit of $828 million; EPS of $0.84
• Adjusted FIFO Operating Profit of $1,017 million and Adjusted EPS of $0.98
• Achieved strong Adjusted Free Cash Flow
• Executed its go-to-market strategy to deliver value for customers
• Grew digital sales 11 percent
• Our Brands sales growth outpaced total grocery sales growth
• Increased total households and loyal households

"As we await the courts' rulings in the regulatory challenge to the merger, we remain confident in the facts and the strength of our position," McMullen added. "The food industry has always been competitive and will continue to be after this merger. We are committed to closing this merger because bringing Kroger and Albertsons together will provide meaningful and measurable benefits—lower prices, secure jobs, and expanded access to fresh, affordable food—for customers, associates, and communities across the country."

More information from the report can be found here. Keep reading ANUK for more retail updates like this one.