In Kroger’s Q1 2023 earnings release, the company matched market expectations and shared strong sales growth results. Overall, Kroger demonstrated a continued commitment to their Leading with Fresh, Accelerating Digital go-to-market strategy.
The retailer reported an increase in total households for the 8th consecutive quarter, specifically in Loyal and Mainstream households, which provide higher profit margin dollars overall. Additionally, Kroger increased digitally engaged households by 13%, which led to an increase of 15% in digital sales.
The company highlighted the consistency of their growth strategies (Fresh, Our Brands, Personalization, and Seamless) while intentionally calling out the positive profit impact from alternative profit streams. The company confirmed its projected 2023 ID sales up 1- 2%, with underlying growth of 2.5-3.5%.
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