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Kroger Co. Earns Soar 24 Percent

October 22, 1997

CINCINNATI (AP) _ The Kroger Co., the nation’s largest grocery chain, reported Wednesday that earnings soared 34 percent in the third quarter, after its tax bill dropped by $16 million.

The company said earnings rose to $95.7 million, or 36 cents a share, in the quarter ending Oct. 4, compared with $71.4 million, or 28 cents a share, a year earlier.

The results announced Wednesday were slightly ahead of analysts’ expectations, and the company’s stock was up 87 1/2 cents per share to $32.93 3/4 in midday trading on the New York Stock Exchange.

Quarterly sales were $7.69 billion, compared with $7.34 billion.

For the first three quarters, net earnings were $287.9 million, or $1.08 a share, compared with $224.4 million, or 86 cents a share, a year ago. Sales were $20.06 billion, compared with $18.97 billion.

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