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Kroger posts higher quarterly profit, raises forecast

A selection of Kroger brand products is displayed in Golden, Colorado September 15, 2009. REUTERS/Rick Wilking
A selection of Kroger brand products is displayed in Golden, Colorado September 15, 2009. REUTERS/Rick Wilking

(Reuters) - Kroger Co , the biggest U.S. supermarket operator, on Thursday reported an increase in quarterly profit and raised its annual profit forecast.

Kroger's net income for the first quarter ended May 25 rose to $481 million, or 92 cents per share, from $439 million, or 78 cents a share, a year earlier.

The company now expects a profit for the year of $2.73 per share to $2.80 per share, up from an earlier forecast of $2.71 to $2.79.

(Reporting By Atossa Araxia Abrahamian; Editing by Gerald E. McCormick)

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