Jun 29, 2009 12:00 PM, By JON SPRINGER

By: By JON SPRINGER

CINCINNATI — Although unruly swings in commodity prices and general consumer uncertainty played havoc with the numbers, officials of Kroger Co. here were bullish on first-quarter financial results the retailer posted last week.

Net earnings of $435.1 million were slightly higher, and comparable-store sales of 3.1% a bit lower, than analysts expected for the period, which ended May 23. But company officials spent considerable time in a conference call explaining why the latter figure understated Kroger's performance — and why analysts shouldn't make too much of the former.

This article is part of SN's Premium content and requires registration. If not already a member, subscribe to Supermarket News today! Your subscription includes:

• Full access to the website, including over a decade of archives.
• The print magazine, delivered weekly, plus the Refresh supplement every quarter.
• More in-depth coverage of the supermarket industry than any other source.
• Surveys and industry data.
• Insight and commentary from industry insiders.

Registered Users	Subscribe Now!
User Name: Password: Remember Me	SAVE with a print/online combo or online-only options.
Already a Print-Only Subscribers? Upgrade to access Supermarket News' premium online content. Call 866-834-1247 to include premium access as part of your subscription!