Kroger reports fourth quarter and full-year 2023 results, announces guidance for 2024

Fourth quarter highlights identical sales without fuel decreased 0.8%; underlying identical sales without fuel increased 0.1%( 1 ) operating profit of $1,194 million; eps of $1.01 adjusted fifo operating profit of $1,307 million and adjusted eps of $1.34, which include a benefit of $187 million and $0.20 from the 53rd week, respectively executed its go-to-market strategy to deliver value for customers grew digital sales more than 10%, excluding the 53rd week increased both loyal households and customer visits fiscal 2023 highlights identical sales without fuel increased 0.9%; underlying identical sales without fuel increased 2.3%(1) operating profit of $3.1 billion; eps of $2.96 adjusted fifo operating profit of $5.0 billion and adjusted eps of $4.76, which include a benefit of $187 million and $0.20 from the 53rd week, respectively delivered adjusted eps growth of 8% excluding the 53rd week delivered $1.3b in operating profit from alternative profit businesses increased associate wages resulting in average hourly wage of nearly $19 and rate of nearly $25 with comprehensive benefits factored in, which is a 33% increase in rate in the last five years achieved strong adjusted free cash flow leading to a net total debt to adjusted ebitda ratio of 1.33, excluding the 53rd week   cincinnati , march 7, 2024 /prnewswire/ -- the kroger co. (nyse: kr) today reported its fourth quarter and fiscal year 2023 results, provided 2024 guidance and updated investors on how leading with fresh and accelerating with digital continues to position kroger for long-term sustainable growth. comments from chairman and ceo rodney mcmullen "kroger achieved strong 2023 results, in line with our long-term growth model and built upon three consecutive years of historic growth.
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