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Updated: 11:14 a.m. Thursday, Dec. 2, 2010 | Posted: 11:13 a.m. Thursday, Dec. 2, 2010

Kroger reports surge in third-quarter profits

By Tim Tresslar

Staff Writer

The Kroger Co. — on the same day it officially launched its Kroger Marketplace concept store in Beavercreek — said it ended its third quarter in the black, rebounding from losses a year ago.

Profits reported Thursday by the Cincinnati-based grocer were $202.2 million, or 32 cents per diluted share, meeting Wall Street analysts’ expectations, the company said. A year ago, the company lost $874.9 million, or $1.35 per diluted share.

Total sales, including fuel, reached $18.7 billion versus $17.7 billion during the year-ago period, a 5.9 percent gain. Without proceeds from fuel, the company reported a sales increase of 3 percent.

Identical supermarket sales, excluding fuel, increased 2.4 percent over a year ago, the company said.

The Marketplace store at 5165 Dayton-Xenia Road opened three weeks ago. However, grand-opening ceremonies for the 133,000-square-foot store were held Thursday. The new store employs 225.

The event was expected to include ribbon-cutting and an appearance by Cincinnati Reds broadcaster Marty Brennaman.

Staff Writer Mark Gokavi contributed to this report.

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