KROGER CO 8-K filed 2026-09-11

This filing is a Form 8-K that KROGER CO filed on 2026-09-11 under Item 2.02, Results of Operations and Financial Condition. It furnishes, as Exhibit 99.1, the press release announcing results for the second quarter ended August 15, 2026. The company trades as KR on the NYSE and is classified as Retail-Grocery Stores. George H. Vincent, Executive Vice President, General Counsel and Secretary, signed the filing. For the quarter, Kroger reported Operating Profit of $971 million and EPS of $1.05, with Adjusted FIFO Operating Profit of $1,076 million and Adjusted EPS of $1.09. Identical Sales without fuel increased 0.2%. Total company sales were $34.6 billion, compared to $33.9 billion for the same period last year, and excluding fuel, the sale of Vitacost and the exit of certain fulfillment centers, sales increased 0.1%. Gross margin was 22.4% of sales, compared to 22.5% a year earlier. The OG&A rate, excluding fuel and adjustment items, increased 33 basis points, which the release attributes primarily to planned investments in associate wages, increased health care costs and sales deleverage. The LIFO charge was $39 million, compared to $62 million a year earlier. The main change for readers tracking the outlook is guidance. Kroger reaffirmed its full-year adjusted net earnings per diluted share guidance but lowered its full-year 2026 identical sales without fuel guidance. CEO Greg Foran said improving sales momentum remains a top priority. The tax rate guidance line is cut off in the excerpt, so that figure is not in the filing text provided. On capital allocation, Kroger raised its dividend by 11% earlier in the quarter, its 20th consecutive year of increases. It repurchased $1.0 billion in shares during the quarter and $1.2 billion year-to-date under a $2 billion authorization, with approximately $800 million remaining that it expects to complete by the end of fiscal 2026. Net total debt to adjusted EBITDA was 1.91, compared to 1.63 a year ago, against a target range of 2.30 to 2.50. The detailed financial statements and the reconciliation tables referenced in the release are not in the filing excerpt.