Summary Box: Kroger posts 4Q loss on pension costs

AP News
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Posted: Mar 01, 2012 10:51 AM
Summary Box: Kroger posts 4Q loss on pension costs

THE BOTTOM LINE: The Kroger Co. said it lost $306.9 million, or 54 cents per share, for the three months ended Jan. 28. That's compared with a profit of $278.8 million, or 44 cents per share, last year.

THE BACKSTORY: The loss was the result of costs associated with consolidating its pension plans. But the Cincinnati-based operator of Kroger, Ralphs and Food 4 Less said the change in pension contributions should reduce costs in the future.

THE CORE BUSINESS: Not including one-time charges, the company said it earned 50 cents per share. That beat Wall Street expectations for 49 cents.