News Summary: Kroger lifts forecast for year

AP News
Posted: Nov 29, 2012 3:58 PM

GOLDEN AISLES: Kroger Co. raised its earnings outlook for the year, after the nation's largest traditional supermarket chain reported third-quarter profit above Wall Street expectations.

ADAPTING: The company, which also operates Fry's Food 4 Less and Ralphs, has been trying to make grocery shopping more pleasant. It has experimented with new formats, like larger "Marketplace" stores that sell general merchandise, and smaller "Ruler" stores that focus on cheaper, private labels.

MAKING A DATA POINT: The Cincinnati-based company said sales at locations open at least a year — a key metric of retailer health — rose 3.2 percent during the quarter.