NEW YORK (TheStreet) -- Shares of The Kroger Co. (KR) are higher by 5.37% to $49.81 in early trading this morning after the company reported net income for the 2014 first quarter was $501 million, or 98 cents per share, compared to $481 million, or 92 cents per share for the same period in 2013.
The company, which operates as a retailer in the U.S. and also manufacturers some of the food sold in supermarkets, posted a 9.9% increase in total sales to $32.96 billion for the 2014 first quarter versus $30 billion for the year ago quarter.
Kroger attributes its strong earnings results to its early 2014 acquisition of the grocer Harris Teeter (HTSI).
Separately, TheStreet Ratings team rates KROGER CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate KROGER CO (KR) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."