Shares of supermarket chain Kroger Co. jumped more than 10% in premarket trade Thursday, after better-than-expected third-quarter earnings. The company said it had net income of $397 million, or 44 cents a share, in the quarter, up from $391 million, or 41 cents a share, in the year-earlier period. Sales rose to $27.749 billion from $26.557 billion, while same-store sales rose 1.1%. The FactSet consensus was for EPS of 40 cents, sales of $27.484 billion and same-store sales growth of 0.9%. Chief Executive Rodney McMullen said the company had its best ever Black Friday, led by record sales at Fred Meyer. The company is still expecting full-year EPS of $1.74 to $1.79 and adjusted EPS of $2.00 to $2.05. The FactSet consensus is for 2017 EPS of $1.97. Shares have fallen 29% in 2017, while the S&P 500 has gained 17%.
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