Kroger Q1 sales up nicelyChristian Fernsby ▼ | June 19, 2020
Kroger reported its first quarter 2020 results.
Kroger Gross margin was 24.3% of sales for the first quarter
Gross margin was 24.3% of sales for the first quarter. The FIFO gross margin rate excluding fuel increased 44 basis points, due to sales leverage related to shrink, transportation, warehousing and advertising costs.
The LIFO charge for the quarter was $31 million, compared to $15 million for the same period last year, primarily driven by higher inflation in meat.
Rent and depreciation excluding fuel decreased 37 basis points due to sales leverage. ■