Kroger’s Q1 2022 earnings release June 16th signaled good news for the retailer and the company’s suppliers. The company beat Wall Street expectations for revenue and EPS with topline growth and less impact to the bottom-line than some of their competitors reported in Q1.
Kroger’s executives attributed the topline growth to strength in Fresh, Kroger private label brands, and digital engagement (despite a YOY decline in digital sales due to traffic shifting back into stores). Overall, Kroger earnings displayed similar trends to other retailers: high impact to pricing from inflation with mixed results from customer behavior; strength in private label; some lingering supply chain challenges; and compressed margins. However, where other retailers also reported excess inventory and overstaffing in Q1, Kroger did not indicate experiencing these pressures.
Download the full Kroger Q1 2022 Earnings report with unique Harvest Group takeaways for suppliers here: