Key facts
- Kroger now expects full-year identical sales to increase between 0.2% and 0.8%.
- The prior forecast was for a 1.0% to 2.0% rise in identical sales.
- The company cited cautious consumer spending amid macroeconomic uncertainty.
U.S. grocer Kroger cut its annual identical sales forecast on Friday, signaling cautious consumer spending even on essential items due to growing macroeconomic uncertainty. The company now anticipates full-year identical sales to increase in the range of 0.2% to 0.8%, a reduction from its previous forecast of a 1.0% to 2.0% rise. The revision underscores concerns about consumer behavior in the current economic climate.