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CINCINNATI – The Kroger Co. today said sales, excluding fuel, increased 6.4% to $34.2 billion in the third quarter ended Nov. 5. With consumers continuing to demonstrate a willingness to spend on food despite rising prices, the company raised its forecast for the full year.
Kroger said comparable-store sales, excluding fuel, increased 6.9% in the quarter.
Digital sales increased 10% from a year earlier, the company said. Delivery sales, driven by Kroger Boost and Customer Fulfillment Centers, were up 34%. Kroger introduced floral and sushi delivery in collaboration with DoorDash in more than 1,000 locations during the quarter. 
Chairman and CEO Rodney McMullen said the growth is being driven by Kroger’s value proposition, which he said includes providing great quality, fresh products at affordable prices, data-driven promotions, trusted private brands and a rewards program that is boosting customer loyalty.
“This quarter demonstrates the strength of our approach to growing our business,” McMullen said. “By delivering for our customers, investing in our associates and supporting our communities, we are creating attractive and sustainable total returns for our shareholders.”
Sales for its Own Brands increased 10.4%. Kroger said it introduced 147 store brands in the third quarter, including holiday-related merchandise. The company introduced the Our Brands Innovation Summit, a program to find new private brands items that highlight market trends.
“Kroger’s focus on delivering value for customers and our disciplined approach to managing costs in an inflationary environment led to another quarter of strong results,” Gary Millerchip, the company’s chief financial officer, said in a statement. “Our consistent execution of our go-to-market strategy continues to build momentum in our business results and gives us the confidence to raise our full-year guidance. We now expect identical sales without fuel to be in the range of 5.1% to 5.3% and adjusted net earnings per diluted share to be in the range of $4.05 to $4.15.
“The resiliency of Kroger’s value creation model positions us well to navigate different operating environments, and as we look forward, we remain confident in our ability to deliver attractive and sustainable total shareholder returns for investors.”
