"I didn't feel that we merchandised through the holidays as much as we're capable of," said David Dillon, the company's chairman and CEO. And competition from the largest retailer in the world will continue to be a factor, he said. "The pace of Wal-Mart's aggressive strategy into the supermarket industry shows no signs of slowing down."
This year executives expect net earnings to exceed $1.16 per diluted share. They are also forecasting a 2% identical-store sales jump, excluding fuel, over 2004. During its Q4, Kroger's identical-store sales, including fuel, were up 2.1%, and increased 0.8% excluding fuel.
For the full year total sales increased 4.9%, to $56.4 billion. During Kroger's Q4, they increased 5.1%, bringing in $13.7 billion.
In 2004, the company opened 111 units, remodeled 135 stores and closed 79. In 40 of the 52 major areas it resides, Kroger has the leading market share, executives said. The company currently operates 2,532 stores in 32 states under the names Kroger, Ralphs, Fred Meyer and others.
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