Kroger’s sales were $45.2bn in the first quarter. Credit: Thomas Hawk/ Flickr (Creative Commons).

US-based retail company Kroger has reported its identical sales without fuel grew 3.5% in the first quarter (Q1) of fiscal year (FY) 2023 compared to a growth of 4.1% in the same period of FY22.

Total company sales for the quarter ending 20 May 2022 were $45.2bn, up from $44.6bn a year ago. Its digital sales rose 15%.

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The retailer’s gross margin for Q1 FY23 was 22.3% of sales.

Its operating profit for the quarter was $1.47bn, down from $1.50bn in Q1 FY22 while adjusted first-in first-out operating profit was $1.66bn.

The company posted earnings per share (EPS) of $1.32 in Q1 FY23, up from $0.90 a year ago and its adjusted EPS were $1.51.

Kroger chairman and CEO Rodney McMullen said: “Kroger achieved solid first quarter results guided by the execution of our Leading with Fresh and Accelerating with Digital strategy.

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“As more customers are feeling the effects of inflation and economic uncertainty, we are growing customer households by providing fresher products at affordable prices with personalised rewards. Our amazing associates are bringing this strategy to life every day by delivering a full, fresh and friendly shopping experience with zero compromise on quality, selection and convenience.

“Looking forward, Kroger’s go-to-market strategy positions us well in a wide range of economic environments to continue to deliver for our customers, invest in our associates and achieve sustainable and attractive returns for shareholders.”

For the full year of 2023, Kroger expects its identical sales without fuel to grow 1.0% – 2.0% and adjusted EPS of $4.45 – $4.60.

Last month, the retailer confirmed it would pay $68m to settle the pending lawsuit regarding the pharmacy chain’s failure to control opioids’ oversupply across the state.