Kroger (KR.US) Q2 earnings beat expectations but fall over 3%: same-store sales increase only 0.2%, full-year sales guidance lowered

According to Zhitong Finance APP, Kroger (KR.US) saw its stock price fall more than 3% in pre-market trading after releasing its second-quarter report, mainly because the company's same-store sales growth in the second quarter was significantly below market expectations and it lowered its full-year same-store sales guidance. This has raised investor concerns about weak consumer spending and the company's future revenue growth prospects. The Cincinnati-based grocery store operator reported total second-quarter sales of $34.6 billion, a year-on-year increase of 2.1%, exceeding the market’s general expectation of $34.53 billion. Adjusted non-GAAP EPS was $1.09, higher than both last year's $1.04 and Wall Street's consensus estimate of $1.04.