Kroger (NYSE: South Korea) delivered a strong performance in the third quarter, with both earnings and earnings beating Street’s expectations. This should come as no surprise to a user who tracks his website traffic trends for the company through his website traffic tool at TipRanks. The Ohio-based retailer operates retail food and pharmaceuticals, multiple department stores, jewelry, and convenience stores.
According to the tool, visits to kroger.com increased by 104.06% year-over-year during the quarter. Q3 traffic jumped year-over-year from 47.7 million to 97.4 million, with most website clicks he saw in July.
It’s worth noting that the company rolled out its Boost membership program nationwide in mid-July. The aim was to attract new customers by offering incentives like free grocery delivery and fuel discounts. . Judging by our website tools, Kroger seems to be successful on this front.
Wondering how this quarter is going? A look at the company’s October website traffic trends shows a 92.82% jump year-over-year. In addition, website traffic has increased by 72.2% since the beginning of the year. An increased footprint on the company’s website means Kroger is likely to see growth this quarter.
Interestingly, management is also optimistic about Kroger’s performance in 2022. On its last earnings call, the company raised its adjusted earnings forecast to $4.05 to $4.15 per share, compared to his previous guidance of $3.95 to $4.05.
Are Kroger shares a buy, hold or sell shares?
On TipRanks, KR has a Hold Consensus Rating based on 3 buys, 8 holds, and 2 sells. Kroger’s average price target of $51.25 implies a 5.9% upside potential. The stock is up 9.2% year-to-date.
in conclusion
Kroger’s increased annual guidance, impressive capital deployment activity, and commitment to gaining market share reflect its growth potential.
Investors can enhance their stock research with website traffic tools. This allows us to analyze changes in consumer behavior and predict how this will affect future earnings reports and share prices.
See how website traffic can help you research your favorite stocks.
Disclosure
