The Kroger Company's stock is up 4.5% since the beginning of the year, which is better than tech and the benchmark indices. In 35 states, the Company has 2,800 grocery store and pharmacy under two dozen banners. The grocery business has been saving Target, Walmart and other big box stores. Dollar General stated that high inflation has curbed consumer discretionary spending in favor of consumer staple items. They don't have a lot of discretionary items, but they do have Kroger's. Groceries and pharmacy are their specialties. It is similar to owning Target without the clothing and electronics, and without the marked up prices. Our Brands gives them higher margins and accelerated sales growth. A lot of Kroger's real estate is owned by them. Its shares are trading at an attractive forward earnings and dividend yield.
MarketBeat.com - MarketBeat Kroger released its results for the second quarter of its fiscal year. The company reported a profit of $0.90 per share, which was $0.07 better than the analysts' estimates. Revenues rose 9.3% year-over-year to $34.64 billion, beating analysts' estimates. Excluding fuel, Identical sales grew. Both digital and identical sales increased. The Company bought back stock in the quarter and raised its dividend for the 16th straight quarter.
Kroger's second-quarter results were propelled by its Leading with Fresh and Accelerating with Digital strategy. We are thankful for our associates who continue to deliver a great customer experience. Kroger is able to thrive in many different operating environments because of the resilience of our business model. We are applying technology and innovation to improve freshness, grow our brands, and create a seamless shopping experience so our customers can get what they want, when and how they want it, with zero compromise on quality, selection and affordability.
The safe side was the subject of Kroger's guidance. The company's full-year earnings per share are expected to range between $3.90 and $4.05. Full-year identical sales are expected to increase 4% to 4.5%.
The growth driver is private label.
Kroger's private label brands are more than just cheaper imitations. Natural and organic brands are preferred by customers over national brands. The growth of private label brands was double that of general identical grocery sales. They sell over 10,000 products under their private label brands. They launched a brand called Smart Way. Private label products from Our Brands won't get 12 Editor's Picks awards for best new products in 2022.
The rifle charts on weekly and daily charts can give a perspective on the playing field. The weekly rifle chart peaked at the 52.22fib level. The weekly 5-period moving average (MA), 15-period MA, and 50-period MA were all below the stock price. At the 50-band, the weekly stochastic is starting to stall. The weekly market structure low was the cause of the plunge. The daily rifle chart is trying to break down as shares plummeted through the daily 200-period MA at $49.73, 5-period MA at $48.80, and the 15-period MA at $48.79. The shares fell through the 50-period MA at $47.92. The attractive levels are $46.69, $45.69 fib, $44.31 fib, $42.93 fib, $40.97 fib, and $38.80 fib.
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