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Kroger fiscal Q2 profit climbs 7.3% YOY

The Kroger Co. said its normalized net income for the fiscal second quarter ended Aug. 16 amounted to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS climbed 13.9% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $329.5 million, a gain of 7.3% from $307.0 million in the year-earlier period.

The normalized profit margin dropped to 1.3% from 1.4% in the year-earlier period.

Total revenue rose 11.6% year over year to $25.31 billion from $22.69 billion, and total operating expenses climbed 11.7% year over year to $24.67 billion from $22.09 billion.

Reported net income rose 9.9% from the prior-year period to $343.7 million, or 35 cents per share, from $312.6 million, or 30 cents per share.