U.S. supermarket chain Kroger Co (KR.N) stopped short of raising its annual forecasts on Thursday, saying a coronavirus-driven surge in demand for essential goods was fading as American households reconsider what they have on their shelves.
Demand for fresh produce, meat and soups surged in March and April, and wide-ranging stockpiling in the health crisis forced the grocer to put purchase limits on cold, flu and sanitary products, as well as beef and fresh pork at certain stores.
Reporting on a bumper first quarter, the supermarket group said that it now expected to beat earlier forecasts, which projected a rise of more than 2.25% in same-store sales and earnings of between $2.30 and $2.40 per share this year.
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