Filed under: Earnings reports, Wal-Mart (WMT), Kroger Co (KR), Safeway Inc (SWY), Technical Analysis, Stocks to Buy

When you are shopping for food, you like to know that the store you are in has a long-standing reputation for reliability. There is a chain based in Cincinnati that has such a reputation. It has been filling grocery bags for 124 years.

Kroger (NYSE: KR) is one of the nation’s largest retail grocery chains. It operates nearly 2,500 supermarkets and multi-department stores in 31 states, under such local banners as Kroger, Ralphs, Fred Meyer, Fry’s, Dillons, QFC and City Market. The firm also operates about 780 convenience stores, 406 fine jewelry stores, 664 supermarket fuel centers and 42 food processing plants. Despite diversification moves, Kroger food stores still account for about 85% of sales. Wal-Mart (NYSE: WMT) and Safeway (NYSE: SWY) are major competitors.

The firm pleased investors earlier in the week, when it reported fiscal Q2 EPS of 38 cents and revenues of $16.14 billion. Analysts had been expecting 34 cents and $16 billion. Management also guided FY08 EPS to $1.64-1.67, versus Street consensus of $1.66.

Continue reading Kroger (KR): ‘Let’s go Krogering’

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