Kroger

Q2 FY2027 EarningsQ2 FY26 results were mixed relative to consensus: revenue of $34.62B slightly beat the $34.53B expectation, while GAAP EPS of $1.05 and Adjusted EPS of $1.09 both surpassed consensus estimates of $1.06 and $1.05 respectively. Identical sales (excluding fuel) grew only 0.2%, facing a significant 138 bps headwind from the Inflation Reduction Act. Crucially, management lowered full-year FY26 identical sales guidance to 0.2%-0.8% (down from 1.0%-2.0%), while reaffirming EPS and profit outlooks, signaling reliance on cost discipline and digital growth rather than volume to hit targets.