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.
- CEO Greg Foran noted that customers remained under pressure.
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. CEO Greg Foran noted that customers remained under pressure, affecting the industry broadly with slowed unit growth since the start of the year.