Kroger Is Hoarding Cash (for Now)
Kroger (NYSE: KR) recently revealed some operating metrics that shocked investors, even considering the soaring demand in the wider supermarket industry through the early phases of the COVID-19 pandemic. Revenue jumped and profitability improved despite extra costs associated with maintaining a healthy sales environment for shoppers and employees.
In a conference call, CEO Rodney McMullen sought to tamper investors' expectations around the potential for sales growth of more than 20% to continue for much longer. Yet the broader takeaways from the quarter were positive. Let's look at some highlights.
Image source: Getty Images.
Source Fool.com
