December 5, 2019 / 1:42 PM / 4 months ago

Kroger's quarterly profit falls 17%

Dec 5 (Reuters) - Kroger Co reported a 17% fall in quarterly profit on Thursday, hurt by the U.S. supermarket chain’s investments in delivery and online to gain market share in a competitive grocery space.

Net earnings attributable to Kroger fell to $263 million, or 32 cents per share, in the third quarter ended Nov. 9, from $317 million, or 39 cents per share, a year earlier.

Excluding the impact of fuel prices, sales at company stores open for more than a year rose 2.5%. Analysts had expected 2.33% growth, according to IBES data from Refinitiv. (Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

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