The market expected a strong performance from Kroger in their Q2 2022 earnings release on Friday, and Kroger performed even better than expected for revenue, sales growth, and EPS. Kroger continues to see less impact to their bottom-line than competitors with more General Merchandise categories. Kroger’s executives cited Fresh, Kroger Delivery, Kroger Brands, and promotional activity among the drivers of Q2 growth. Promotional activity appears to be preserving shopper loyalty to Kroger, as personalized digital coupons make higher quality items more affordable for budgets pressured by ongoing inflation. For the second quarter in a row, the company raised guidance for the remainder of the year due to their confidence in ongoing strength.
Download the full Kroger Q2 2022 Earnings report with unique Harvest Group takeaways for suppliers here: