The Kroger Co. (NYSE:KR) Q1 2016 Earnings Conference Call - Final Transcript
Jun 16, 2016 • 10:00 am ET
2015. Keep in mind the second quarter last year grew by 26%. Both the third and fourth quarters will be at the low end to mid point of the range. We continue to expect capital investments, excluding mergers, acquisitions and purchases of leased facilities, to be in the $4.1 billion to $4.4 billion range for 2016.
Finally, we continue to expect Kroger's full-year FIFO operating margin in 2016, excluding fuel, to slightly expand compared to 2015 results.
Now, I will turn it back to Rodney.
Thanks, Mike. We are proud of our team's performance during the quarter, especially in light of the challenging operating environment. We have been through business cycles like this before. The best thing we can do is to deliver on our promise while investing for the future. We will continue to execute our customer-first strategy and by doing so will create long-term value for our shareholders.
Now, we look forward to your questions.