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By Michael Dabaie
Kroger Co. (KR) backed its 2019 guidance and set targets for 2020.
The retailer reiterated its 2019 adjusted earnings per share forecast of $2.15 to $2.25. Kroger said it sees 2020 adjusted EPS of $2.30 to $2.40.
Shares were up 3% premarket to $25.74.
Kroger also backed its 2019 identical sales growth forecast of 2% to 2.25%. The company said it sees 2020 identical sales growth, excluding fuel, to be greater than 2.25%.
Kroger is targeting total shareholder return of between 8% and 11% beyond 2020.
The company said Tuesday its board approved a $1 billion share repurchase program, replacing the existing authorization that has about $546 million remaining.
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(END) Dow Jones Newswires
November 05, 2019 08:38 ET (13:38 GMT)
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