Kroger expects smaller decline in annual same-store sales on grocery demand By Reuters

© Reuters. FILE PHOTO: A logo of Kroger is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson/File Photo

(Reuters) – Kroger (NYSE:) Co said on Friday it expected a smaller decline in annual same-store sales as nerves around this summer’s surge in coronavirus infections kept Americans stocking up on groceries.

The U.S. grocer estimated a 1% to 1.5% fall in adjusted same-store sales, compared with a previous forecast of a decline between 2.5% and 4%. Analysts on average expect same-store sales to decline 2.9%, according to Refinitiv data.

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