Kroger raises profit forecast as at-home cooking sustains grocery demand

A rise in U.S. COVID-19 cases during the third quarter also boosted sales at grocers, with some like Costco Wholesale Corp forced to reinstate limits on purchases of items including tissues, roll towels and bottled water, as consumers resumed hoarding goods. Kroger said it expects full-year adjusted earnings per share of $3.40 to $3.50, compared with its prior forecast of $3.25 to $3.35. The company said it expects full-year same-store sales to dip 0.2% to 0.4%, compared with its prior forecast of a fall of 1% to 1.5%.

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UPDATE 1-Omicron may soon cause over half of COVID infections in Europe -EU

The European Union’s public health agency said on Thursday that the Omicron variant could be responsible for more than half of all COVID-19 infections in Europe within a few months. The estimate could lend weight to preliminary information about the very high transmissibility of the Omicron variant, above that of the Delta variant, which before Omicron was considered the most contagious of the main coronavirus strains.

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