Kroger Stock Takes a Hit on Loss, Lower Guidance

Kroger Co. stock took a beating yesterday — falling nearly 12% to just over $20 — as the company reported a net loss of $874.9 million, or $1.35 per share, for the third quarter, due primarily to a write-down of $1.05 billion at its Ralphs division in Southern California.

CINCINNATI — Kroger Co. stock took a beating yesterday — falling nearly 12% to just over $20 — as the company reported a net loss of $874.9 million, or $1.35 per share, for the third quarter, due primarily to a write-down of $1.05 billion at its Ralphs division in Southern California. It also lowered guidance on sales and earnings for the year.

The company said it took the noncash charge because of the weak Southern California economy, high unemployment levels, population decli

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