Kroger set a goal of about 3% comparable sales growth in 2029 at its Oct. 20 Investor Day, pairing longer-term profit targets with an unchanged forecast for 2026.
The 2029 sales goal excludes fuel and pharmacy. Kroger’s three long-term targets also leave out its pending acquisition of Giant Eagle.
For fiscal 2027 through 2029, Kroger set compound annual growth targets of 3% to 6% for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and 7% to 11% for adjusted net earnings per share.
Kroger retained its 2026 forecast of 0.2% to 0.8% growth in identical sales excluding fuel. It also kept its projections for adjusted earnings per share at $5.10 to $5.30 and adjusted first-in, first-out (FIFO) operating profit at $5 billion to $5.2 billion.
The two sales measures have different exclusions: the 2029 goal leaves out pharmacy as well as fuel, while the 2026 guidance excludes fuel. Both figures remain targets, rather than reported sales growth.
Kroger lowered its 2026 sales-growth forecast in September from a previous range of 1% to 2%. Its adjusted earnings-per-share and FIFO operating-profit forecasts did not change then, leaving the revised sales range in place at the investor meeting.
The longer-term adjusted earnings-per-share goal replaces Kroger’s earlier target of 8% to 11% for total shareholder return, which included dividend yield. The new target measures earnings growth without including the dividend yield.
Beyond the financial targets, Kroger wants to increase e-commerce sales and retail-media revenue. It also plans to invest in fresh food and meals, increase Our Brands penetration and grow Boost membership.
Kroger expects savings from sourcing, purchasing and operational changes to help fund those priorities. The company said technology and artificial intelligence should improve how it carries out that work.
