In a press release dated March 4th The Kroger Company Inc. (KR) announced results for Q4 and FY 2020 ending January 30th 2021.
The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)
|
4th Quarter Ending
|
Jan. 30th 2021
|
Feb. 1st 2020
|
Difference (%)
|
|
Sales:
|
$30,737,000
|
$28,993,000
|
+6.0
|
|
Gross profit:
|
$7,046,000
|
$6,486,000
|
+8.6
|
|
Operating income:
|
$(158,000)
|
$537,000
|
-129.4
|
|
Pre-tax Income
Net Income
|
$(110,000)
$(76,000)
|
$390,000
$319,000
|
-128.2
-76.2
|
|
Diluted earnings per share:
|
$(0.10)
|
$0.40
|
-125.0
|
|
Gross Margin (%)
|
22.9
|
22.3
|
+2.6
|
|
Operating Margin (%)
|
-0.5
|
1.9
|
-126.3
|
|
Profit Margin (%)
|
-0.3
|
1.1
|
-127.3
|
|
Long-term Debt and lease obligations:
|
$21,669,000
|
$20,366,000
|
+6.4
|
|
12 Months Trailing:
|
|
|
|
|
Return on Assets (%)
|
5.0
|
|
|
|
Return on Equity (%)
|
31.8
|
|
|
|
Operating Margin (%)
|
2.9
|
|
|
|
Profit Margin (%)
|
2.2
|
|
|
|
Total Assets
|
$48,637,000
|
$45,256,000
|
+7.5
|
|
Market Capitalization
|
$26,000,000
|
|
|
For FY 2020 Kroger earned $2.59 billion on revenue of $101.597 billion with an EPS of $3.27. For the previous fiscal year Kroger earned $1.51 billion on revenue of $95,294 billion with an EPS of $2.04
For FY 2020 same-store sales increased 14.1 percent over FY 2019. For Q4 Same-store sales increased by 10.6 percent with digital sales growing 118 percent compered to Q4 2019
52-Week Range in Share Price: $27.33 to $42.99 50-day Moving average $33.72
Market Close Wed March 3rd pre-release $32.19. March 4th post release 15H42 $34.05.
Forward P/E 12.0 Beta 0.3
In commenting on results for Q4 and FY 2000 Rodney McMullin CEO stated, "Kroger continued to grow market share during the quarter. Our ability to meet our customers' evolving needs is a testament to our deep competitive moats, disciplined investments in our increasingly robust digital capabilities, as well as our associates' relentless focus on our customers. We finished fiscal year 2020 with strong sales and earnings, as heightened demand for fresh, convenient food and meal solutions across modalities, including in store, pick up and home delivery, continued throughout the fourth quarter.
"Supported by our strong performance and cash position, we were pleased to commit more than $2.5 billion to safeguard the environment our associates and customers work and shop in and to reward associates, including nearly $1 billion to better secure pensions."
Kroger provided the following FY 2021 guidance:
EPS $2.75 to $2.95. Operating profit $3.3billion to $3.5 billion.