A look at North American equities heading in both directions
Kroger forecast adjusted same-store sales growth of 5.1 per cent to 5.3 per cent in fiscal 2022, compared with its prior outlook of a 4-per-cent to 4.5-per-cent rise. It lifted its annual earnings per share forecast to between US$4.05 and US$4.15, from US$3.95 to US$4.05.
In a note, Citi analyst Paul Lejuez said: “Overall it was solid month, but highlights how it is tough for COST to grow against tough comparisons. We continue to believe that COST is well positioned to navigate these inflationary times but trading at 20 times F23 EBITDA we believe the risk/reward is balanced.
Tennessee-based Dollar General said unexpected delays in acquiring additional warehouse space to store its inventory resulted in higher-than-expected distribution and transportation costs in the third quarter.Rival Dollar Tree Inc had last month cut its full-year profit forecast for the second time, citing planned price cuts and weak demand for higher-margin discretionary goods.
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