Profit up 36 percent for Parent of City Market

By: AP Email
By: AP Email

Cincinnati (AP) The parent of Colorado's City Market and King Soopers grocery store chains says more shoppers filled up more baskets at the end of last year, driving up profits companywide.

Cincinnati-based Kroger Company says fourth-quarter earnings rose 36 percent, thanks to a big increase in sales.

Net income rose to $384.8 million, up from $282.1 million at the same time a year earlier.

Revenue also grew 15 percent to more than $16.8 billion.

The earnings amounted to 54 cents a share, beating analysts' expectations by nine cents apiece.

The company's King Soopers unit is based in Denver, while City Market is headquartered in Grand Junction.

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