BUZZ - Kroger shares rise after announcing long-term targets ahead of Investor Day

October 20 - ** Retailer Kroger KR.N shares rose 1.6% in pre-market trading to $64.08

** The company (link) announced its long-term targets under the leadership of CEO Greg Foran (link) ahead of its investor day and reiterated its annual forecast (link)

** It expects same-store sales, excluding fuel and pharmacy, to grow about 3% by 2029; between 2027 and 2029, adjusted core profit to increase 3% to 6%, and adjusted earnings per share to rise 7% to 11%

** Foran said: "We are simplifying and modernizing our operations to deliver an outstanding customer experience and create long-term value for shareholders."

** As of the close of the previous trading day, the company’s shares had declined by about 7% over the past 12 months

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