On September 11th, the Kroger Company (KR) reported on the second quarter of fiscal 2020 ending August 15th.

For the period, sales attained $30.489 billion with net earnings of $819 million and an EPS of $1.04.  The corresponding values for the second quarter of fiscal 2019 ending August 17th comprised sales of $28.17 billion with net earnings of $297 million and an EPS of $0.37.  Gross margin was 22 percent for the most recent quarter compared to 21.9 percent for the corresponding second quarter of fiscal 2020.

Same-store sales increased by 14.6 percent and digital sales by 127 percent compared with the second quarter of 2019.  On August 15th, Kroger posted total assets of $47.54 billion and carried long-term debt including leases and other obligations of $20.96 billion. 

In commenting on results, Rodney McMullen, Chairman and CEO stated, "our top priority is to provide a safe environment for associates and customers and as the pandemic continues, we will continue to rise to meet the challenge".  He added "we are more certain than ever that the strategic choices and investments made through Restock Kroger have allowed us to execute against our competitive obstacles.  Our Brands® have positioned Kroger to meet the moment especially as customers are recovering their passion for food at home”.

Kroger traded during the past 52 weeks over a range of $23.71 to $37.22.  The company closed on September 10th at $34.85 and was little changed by the release, closing on Friday at $34.37.  KR has a market capitalization of $26.74 billion and trades with a forward P/E of 12.5. Over the past 12 months, operating margin attained 2.51 percent and profit margin 1.66 percent.  Return on assets was 4.4 percent with 22.0 percent on equity.