Kroger Co. delivered stronger than expected earnings and sales, sending its stock up 10% as investors welcomed evidence that the grocer is growing even as it overhauls operations to compete with Amazon.com Inc. and discounters.
The largest U.S. supermarket chain by stores and sales reported revenue of $37.5 billion in the quarter ending in May, up from $36.3 billion the prior year. Earnings per share on an adjusted basis more than doubled, to 73 cents per share on $626 million in earnings from 32 cents per share on $303 million...