Kroger Co. (KR) Reports Lower-Than-Expected Fourth Quarter Profit, Issues Guarded Outlook

Supermarket chain Kroger Co. (NYSE: KR) reported lower-than-expected profit of $255.4 million, or 39 cents a share, down from $349.2 million, or 53 cents a share in the same quarter last year.

The company cited tough competition, and fluctuating costs as the reasons behind lower-than-expected profit. The company reported a 7.2% increase in sales to $18.6 billion.

The supermarket chain issued a guarded outlook for the coming year given the “uncertain” economic recovery. The company expects EPS to be in the range of $1.60-$1.80.