Kroger Reconfirms FY21 Outlook - Quick Facts

(RTTNews) - Ahead of its virtual 2021 Investor Day event later on Wednesday, supermarket chain Kroger Co. (KR) said it will provide an update on the company's strategic initiatives, outlining key growth opportunities that will drive the financial model forward i

It also plans to deliver strong and sustainable total shareholder return of 8 to 11 percent through net earnings growth of 3 to 5 percent and strong and growing free cash flow to invest in growth initiatives and return cash to shareholders.

At the Investor Day event, Kroger will discuss the three core elements of its strategy - grow sales and share by leading with fresh food; increase profitability by accelerating with digital, which is now a growth engine; and widen and deepen the competitive moats that will generate customer loyalty and market share gains - Seamless, Personalization, Fresh, and Our Brands.

The company also reconfirmed its guidance for the full-year 2021, continuing to expect adjusted earnings in a range of $2.75 to $2.95 per share on total identical sales, without fuel, decline of 3 to 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share on revenues of $129.59 billion for the year. Analysts' estimates typically exclude special items.

On a two-year basis, the company continues to expect adjusted net earnings per share compounded annual growth rates of between 12 and 16 percent on identical sales, without fuel, growth to be in the range of 9 to 11 percent.