Kroger To Gain From Long-Term Margin Support, Higher Customer Visits - Analyst Sees 'Attractive Entry Point'
Kroger To Gain From Long-Term Margin Support, Higher Customer Visits - Analyst Sees 'Attractive Entry Point'
BofA Securities analyst Robert F. Ohmes reiterated the Buy rating on Kroger Company (NYSE:KR), with a price objective of $70.
BofA證券分析師Robert F. Ohmes重申了Kroger Company（紐交所：KR）的買入評級，價格目標爲70美元。
Yesterday, the company reported first-quarter earnings results, recording an adjusted FIFO operating profit of $1.499 billion. Quarterly sales totaled $45.3 billion, compared to $45.2 billion a year ago.
昨天，該公司公佈了第一季度的收益結果，調整後FIFO營業利潤爲14.99億美元。季度銷售額爲453億美元，而一年前爲452億美元。
Kroger saw increased total/loyal households and customer visits during the first quarter, as it continues to provide affordable prices and personalized promos, Ohmes notes.
Kroger在第一季度看到了總體/忠誠的家庭和顧客訪問量的增加，因爲它繼續提供實惠的價格和個性化促銷活動，Ohmes指出。
The analyst maintains 2025 adjusted EPS of $4.45 (in line with the company's reiterated guidance for $4.30-4.50). According to Ohmes, this reflects first quarter upside as well as pharmacy profitability headwinds that are now expected to carry over into the second quarter.
分析師維持2025年調整後每股收益爲4.45美元（符合公司重申的4.30-4.50美元的預測）。根據Ohmes的說法，這反映出第一季度的利潤上漲以及現在預計將延續到第二季度的藥房盈利壓力。
The analyst projects second-quarter adjusted EPS of 91 cents, which is down 6% year over year.
分析師預測第二季度調整後每股收益爲91美分，同比下降6%。
Despite the expected pharmacy pressure that is now expected in the second quarter, Kroger still expects overall gross margin trends to improve versus the first quarter and full-year FIFO gross margin to be flat on a year-over-year basis.
儘管預計第二季度將面臨藥房壓力，但Kroger仍然預計整體毛利率趨勢將改善，FIFO毛利率全年同比持平。
Per Ohmes, this reflects Kroger's continued cost savings execution as well as long-term margin drivers that remain intact, including alternative profit streams, Our Brands, and Fresh.
Ohmes表示，這反映出Kroger繼續實施成本節約措施以及長期的利潤驅動因素，包括另類利潤來源、我們的品牌和新鮮食品。
Overall, the analyst sees further support for Kroger's market share trends from strong digital and in-store execution, long-term margin support from growth in alternative profit streams, improving digital profitability, and cost savings execution.
總的來說，分析師認爲Kroger在數字化和門店執行方面有更強的市場份額趨勢支持，長期的利潤支持來自另類利潤流、數字化盈利能力改善以及成本節約措施的執行。
BMO Capital Markets analyst Kelly Bania maintained the Outperform rating on Kroger, with a price forecast of $60.
BMO資本市場分析師Kelly Bania維持對Kroger的跑贏市場評級，並給出60美元的價格預測。
While the second quarter was guided down on continued pharmacy and incentive comp pressures, the analyst estimates quarter-to-date fuel profitability has flipped to a tailwind, while grocery trends have continued to improve from the first quarter, with fundamentals supporting further acceleration into the second half of the year.
雖然第二季度繼續受到藥房和激勵性補償的壓力，但分析師估計到目前爲止，燃料盈利能力已經轉爲順風，而雜貨趨勢從第一季度開始持續改善，基本面支持進一步加快到下半年。
Per Bania, gross margins could prove more stable-than-feared, plus there is a potential for EPS accretion under a deal or no-deal scenario with Albertsons Companies, Inc. (NYSE:ACI).
按Bania的說法，除了與Albertsons Companies, Inc. (NYSE:ACI) 達成協議或未達成協議的情況下，毛利率可能比預期穩定外，還存在EPS增值的可能性。
Overall, Kroger's positioning in the industry may allow it to continue managing the competitive environment with a stable gross margin percentage.
總的來說，Kroger在該行業的定位可能使其能夠繼續以穩定的毛利率百分比應對競爭環境。
Therefore, Bania sees an attractive entry point for Kroger shares due to potentially exaggerated price investment fears.
因此，由於可能存在誇張的價格投資恐懼，Bania看到了Kroger股票的一個有吸引力的入場點。
Price Action: KR shares are trading lower by 0.53% to $50.01 at last check Friday.
價格走勢：KR股票最後交易下跌0.53%，報50.01美元。
Photo via Wikimedia Commons
照片通過Wikimedia Commons