CHICAGO (Reuters) – Kroger Co beat analysts' quarterly earnings estimates by focusing on service to keep its current customers instead of slashing prices to attract new ones, the largest U.S. supermarket chain said on Tuesday.
The number of "loyal households," which Kroger calculates based on total purchase size and how often they shop at its stores, rose during the quarter, Chief Operating Officer Rodney McMullen said.
Those customers also shopped more as the company targeted coupons to frequent shoppers and improved its customer service, he said.
The company, which operates stores under the Kroger, Ralphs, King Soopers, Fry's and Food 4 Less banners, reported a 2.7 percent rise in sales at "identical" stores — those open without expansion or relocation for five full quarters.
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