Kroger’s revenue last quarter was $41.3 billion, and digital sales increased 108% year-on-year

Introduction: Digital sales continue to grow

Recently, Kroger said that for the quarter ended May 22, net sales totaled US$41.3 billion, a decrease of 0.6% from US$41.55 billion in the same period last year. Its sales in the first quarter (excluding fuel) were compared with the same period last year. A decrease of 4.0%.

This company was founded in Ohio in 1883. In terms of revenue, this company is the largest supermarket chain in the United States. In addition, he is the third largest retailer in the world and the third largest employer in the United States.

The company pointed out that despite the difficult situation compared to the same period last year, sales have been rising since the outbreak of the new crown pneumonia. The company reported that excluding fuel, sales in the first quarter of 2021 increased by 14.9% year-on-year.

In the same period last year, driven by consumer demand driven by the epidemic, the company's sales increased by 11.5%. In the fourth quarter of 2021, vehicle sales excluding gasoline fell by 4.1%, compared with an increase of 19% in the same period last year.

In the current quarter, Kroger's digital sales have increased by 16% since the first quarter of last year and 108% since the first quarter of 2019.

The company’s total sales for the quarter were $41.3 billion, compared with $41.5 billion in the first quarter of last year. Operating profit for the quarter was US$805 million, while its earnings per share (EPS) was US$0.18, and its gross profit margin was 22.6% of sales.

The company’s adjusted EPS for the quarter was $1.19, a compound annual growth rate of 28.6% compared with 2019.

Said Rodney McMullen, Chairman and CEO of Kroger. "Because of our relentless focus on leading new things and accelerating development digitally, Kroger is more handy in connecting with customers than before the pandemic." Customers responded to our investment in the digital field, since Since the beginning of 2019, our digital sales have increased by three digits, which is proof. "

During the quarter, the company launched 253 products, including seasonal fresh products and products, and expanded its digital services to 2,233 pickup points and 2,488 delivery points.

Back in April of this year, Kroger announced that its goal was to double digital sales by the end of 2023. This company has been continuously improving its digital sales capabilities and improving its revenue forecasts.