UPDATE: Kroger Reports Upbeat Q4 Adjusted Profit

Kroger Co KR swung to a fourth-quarter loss on Thursday. Kroger posted a quarterly loss of $307 million, or $0.54 per share, versus a year-ago profit of $279 million, or $0.44 per share. Its total sales climbed 7.7% to $21.4 billion. Excluding one-time charges, Kroger's adjusted earnings came in at $0.50 per share. However, analysts were expecting earnings of $0.49 per share on revenue of $21.4 billion. Kroger projects 2012 earnings of $2.28 to $2.38 per share, versus analysts' estimates of $2.22 per share. Kroger shares gained 2.98% to $24.50 in pre-market trading.
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