Kroger has turned into a ‘real interesting situation’ after a surprisingly strong first quarter report, says TheStreet’s Jim Cramer. Kroger stock is up by 2.5 percent on Thursday, after the grocery store chain delivered fiscal first quarter earnings that topped estimates. Revenue fell short of estimates. The Cincinnati-based company reported earnings of $0.70 a share for the quarter ended May 21, above estimates of $0.69 a share and up from $0.62 a share for the same period last year. Revenue increased 4.7 percent year-over-year to $34.6 billion for the first quarter, but missed estimates of $34.9 billion. Excluding fuel, total sales were up 7.8 percent. Identical supermarket sales, excluding fuel sales, were up 2.4 percent, compared with a 5.7 percent increase for the first quarter last year.
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