Grocery chain Kroger Co (NYSE: KR) reported first-quarter results, highlighted by changing trends that are likely to result in permanent habits, Kroger CEO Rodney McMullen said on a Fox Business interview.
Kroger reported quarterly earnings of $1.22 per share, which beat the analyst consensus estimate of $1.09 by 11.93%. The company reported quarterly sales of $41.55 billion, which beat the analyst consensus estimate of $40.72 billion by 2%.
Digital Growth: Kroger reported a 92% increase in digital sales during the quarter as many consumers chose to place orders online for delivery or pickup, McMullen said. To best satisfy the growth, Kroger hired 40,000 new employees to work on the digital side of the business.
Regardless of how consumers interact with Kroger, the company is seeing a new trend playing out as families are cooking together more often, he said. Over time, this could transform into new habits