Kroger (KR) reported revenue for the first quarter that beat analysts' estimates and said it would pause stock buybacks as it works to get regulatory approval of its 澳洲幸运5官方开奖结果体彩网:$24.6 billion acquisition of rival Albertsons (). Shares initially surged after the earnings release Thuꦜrsday before turning lower in intraday trading.

The supermarket chain said it was putting a hold on share repurchases “to prioritize de-leveraging” ahead of the deal, which is being 澳洲幸运5官方开奖结果体彩网:challenged by regulators over concerns about the merger potentially limiting competition. In April, the two companies agreed to se♑ll off more locations in an effort to win approval. 

🧜🥀Growth From Digital Sales, Delivery and Pickup Options

Kroger posted revenue of $45.27 billion, up 0.2% from a year ago and above analysts' projections. 澳洲幸运5官方开奖结果体彩网:Same-store sales, excluding gas, were 0.5% higher. Kroger addဣed that digital sales rose more than 8%, and that its delivery and pickup options together brought double-digit percent growth. It noted that total households, loyal households, and customer visits all increased.

Diluted earnings per share (EPS) came in at $1.29, down f🔯ro𓆏m $1.32 in the year-ago period and below analysts estimates. However, adjusted EPS of $1.43 beat projections.

CEO Rodney McMullen said Kroger had a “better-than-expected performance of ou♈r grocery business.” He noted the company benefited from lower prices and personalized promotions. 

Kroger also reiterated its full-year outlook, and reported that it would continue to pay 澳洲幸运5官方开奖结果体彩网:dividends, and increase th🍰em over time, pending board approval.

Kroger shares were 2.9% lower at $50.48 as of 11:30 a.m. ET Thursday, though they've gained over 10% since the start of the year. Albertsons shares were 0.8% lower at $19.77 Thursday and have lost about 14% in 2024 so far.