Kroger Rises On Upbeat Q2 Results

Shares of Kroger Co

moved up after the company a 1.4% rise in its Q2 net income. The company reported its net income at $261.6 million, or $0.41 per share, up from $254.4 million, or $0.39 per share, in the year-ago quarter. The company's sales increased to $18.8 billion, as compared to $17.7 billion, in the year-ago period. However, the Wall Street analysts were expecting the company to post its earnings of $0.36 per share on revenue of $18.7 billion. Kroger projects earnings of $1.60 per share to $1.80 per share for 2010. KR's shares rose 2.66% to $21.60 at 9:51 am. Read more