CINCINNATI (AP) — Kroger’s net income fell nearly 6 percentduring the third quarter, partly on the
costs from the pendingacquisition of Harris Teeter.Kroger and other supermarkets aretrying to adapt to a
shifting industry as shoppers increasingly buygroceries at big-box retailers, drugstores and dollar stores
withgrowing food sections.The company is bolstering its appeal acrossa broader spectrum, through its
acquisition of upscale food retailerHarris Teeter, and an expanded loyalty program for customers sticking
toa tighter budget.The nation’s largest traditional supermarketsaid Thursday that its net income fell to
$299 million, or 57 cents pershare. That compares with net income of $317 million, or 60 cents pershare a
year ago. Excluding costs related to the acquisition and a taxbenefit, net income totaled 53 cents per
share, matching expectations. Ayear ago, the company benefited from a settlement with credit cardcompanies.
Excluding that and other items, year-ago revenue totaled 46cents per share.Revenue rose 3 percent to $22.51
billion from $21.81 billion. Analysts expected $22.72 billion.KrogerCo., which owns also Ralphs, Fry’s and
other chains, said sales rose3.5 percent at stores open at least a year. That’s a key measure of aretailer’s
financial health because it excludes the volatility fromstores that open or close during the period.The
company stuck to its per-share earnings expectations of $2.73 to $2.80 for the year.Analysts expect $2.80
per share.Sharesedged down 55 cents to $40.96 in morning trading, with stocks on majorU.S. markets moving
mostly lower. The stock is up 63 percent since thebeginning of the year.Copyright 2013 The Associated Press.
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