Kroger Co. 2Q results at a glance

Kroger Co., the nation's largest traditional grocery store chain, reported second-quarter results Tuesday:

THE QUARTER: Profit rose 3.4 percent; net income was $276.5 million, or 42 cents per share, up from $267.3 million, or 38 cents per share, a year earlier. That topped analysts' estimates by a penny. Sales jumped nearly 12 percent, to $18.1 billion.

WHAT'S HAPPENING: The company says people are eating more meals at home and buying lower-priced store brands. Sales were strong for its deli, bakery and prepared foods, and Kroger said corporate-label items now account for a record 26 percent of its grocery sales.

THE OUTLOOK: Kroger confirmed its fiscal year 2008 earnings guidance of $1.85 to $1.90 per share. Analysts are expecting $1.92 a share for the year. The company said it's too soon to tell how its results could be affected by Hurricane Ike, which disrupted store operations in Texas and several inland states including Ohio.

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