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The Kroger Co (NYSE:KR) on Thursday swung to profit in fiscal fourth-quarter as the company booked solid revenue expansion, while also getting benefit from an accounting related credit, an extra week in this period, and the absence of a big pension related charge compared to previous year.
Shares of grocery-store operator hiked 3.9% to settle at $30.49 in recent early trading session as results surpass Wall Street forecasts.
Kroger forecasted EPS in the range of $2.71 to $2.79 for full year, while Thomson Reutersanalyst’ssurvey most recently forecasted $2.64.
J.C. Penney Company, Inc’s (NYSE:JCP) stock hiked 2.3% on Thursday, overturning a 3 day drop that wiped out almost one-fifth of the company’s value.
New York Post published by mention a source that the struggling retailer has fired 1,500 store-level department managers and merchandising positions across its chain, after previous month lowering 300 jobs at its Plano, Texas headquarters.
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