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Kroger lifts forecast after stronger third quarter

Published on NewsOK Modified: November 29, 2012 at 6:15 pm •  Published: November 29, 2012
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The company said it earned $316.5 million, or 60 cents per share, for the period. That compares with $195.9 million, or 33 cents per share, a year ago. The most recent quarter included gains from a settlement with Visa and MasterCard and a reduction in the company's pension fund contributions.

Not including special items, the company earned 46 cents per share. Revenue rose 6 percent to $21.81 billion.

Analysts on average expected an adjusted profit of 43 cents per share on revenue of $21.55 billion, according to FactSet.

Kroger now expects to earn between $2.44 and $2.46 for the year, up from the previous range of $2.35 to $2.42.

Kroger's stock rose $1.19, or 4.8 percent, to close at $26.25 Thursday. The company operates more than 2,400 supermarkets and multi-department stores in the U.S.