Nov 5 (Reuters) - Kroger Co on Tuesday forecast 2020 profit and same-store sales ahead of Wall Street estimates, as the supermarket chain benefits from its investments in store modernization and delivery services.
The company forecast adjusted profit between $2.30 and $2.40 per share in 2020, and identical sales growth, excluding fuel, to be greater than 2.25%.
Analysts are expecting the company to earn $2.30 per share in 2020 and report same-store sales growth of 1.99%, according to IBES data from Refinitiv.
Kroger reconfirmed its 2019 forecast on identical sales and earnings. (Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)