Kroger Calls Out Adult Beverages Declines

Dear Client:  Kroger reported Q2 earnings yesterday morning, and results were better than expected – in fact, the grocer raised annual sales guidance for the second time this year. Identical sales without fuel grew 3.4%, ahead of expectations. The retailer is the second largest U.S. grocer by dollar share (~8.5%, per Numerator), though far behind no. 1 player, Walmart (~21%).  “This is our sixth consecutive quarter of identical sales without fuel improvement,” said interim CEO Ron Sargent.  Sales growth was