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Healthcare

Kroger raises 2020 same-store sales forecast as customers stockpile

Dec 3 (Reuters) - U.S. supermarket operator Kroger Co raised its 2020 same-store sales forecast on Thursday, as a resurgence in COVID-19 cases has prompted customers to stock up on cooking and household essentials.

Kroger said it expects same-store sales, excluding fuel, to rise around 14%, compared with its prior forecast of a more than 13% growth. Analysts on average were expecting a 13.08% rise.

Sales, excluding fuel, at stores open for more than a year rose 10.9% in the third quarter ended Nov. 7, compared with Refinitiv IBES estimate of a 10.21% rise. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)

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