Thanks, everyone. good Rodney morning, and
results quarter reposition to Kroger. the ability for for Restock deliver while future our we the shareholders, second through company demonstrate Our
higher investments, while XXXX, This and As Restock due changes expectations of noted delivering in adjusted our continue net was the making of the that revenue streams. per allow for for range solid Kroger's internal earnings us slightly diluted incremental on performance sustainable led margin controls, our early press the share result half including release guidance first alternative year. Kroger, to this cost our process morning, will of to ahead execution the
Since quarter, primarily share relate of items partnership second investment market We investment our Kroger's also change Ocado in adjustment the has that noted in the the in announcement securities. the the second value doubled. quarter and price to
As we second several Our of you quarter in and investments during space investments These accelerated Restock optimization. planned starting the in the quarter support Kroger continuing price and Brands in first especially know, include in
experience Since more the striving full-service than for to customers, in also isn't strategy Our billion provide while we grocery $X.X XXXX, pricing new. have best in prices invested lower America.
the We look did quarter, Kroger as we that last before strategy, noted second first and the be space half out optimization pursue in to began significant we that of we pull would Even forward June quarter. Restock for investments the we continued sales investments to weeks in ways year. headwinds always as the our four in long-term in savings the ID make bank in of roll
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XX pharmacy. the ID departments divisions second IDs, sales Several is quarter, most total demonstrating with supermarket positive our and resonating in ID customers our Kroger in sales the Restock at quarter, second across notably our foods, the seafood Looking natural outperformed had company. of
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in and XXXX. developing Our good redefining the Restock ID of how and customer for This profit by FIFO investments of will incremental for savings, value sales gains. we productivity will the end in million customer Kroger partnering $XXX by operating strong cost experience, is generate talent grocery and be paid
a an store performance on Now update for retail in the second fuel quarter.
Average per Our of compared quarter approximately the last in fuel margin $X.XX was year. in gallon cents quarter. to was $X.XXX price second same versus year $X.XXX fuel retail last $X.XX
to XX%. our XXXX be tax rate approximately We expect
the the the Excluding expect be first with we diluted adjusted XX%. XXXX by second items, about resolutions adjustment during and approximately tax $X.XX share. states to rate XXXX per net earnings Favorable quarter benefited second certain quarter quarter
opportunity want nationally thanks associates generating including to committed we sale. business We part growth to ensure to Tax convenience to like XXX Hill as known brand. is has to meet As billion potential. such Much within original are billion alternatives remain is previously actively it announced, of Hill's Turkey and Federal Turkey our $X.X $X Kroger Hill strategic a exploring brand Hill to We we business, amount Restock its for strong our contribute Turkey every CPG Dairy $X.X Turkey a free dedicated XXXX the after potential increased as business, of The store food of unique success. the Kroger. by billion a beloved Act. who passage its to cash would the it was full flow
to Chef. is one million Tax year. this have to to X.X. improvement $XXX a that capital start the our of reduce $X.X about cash XX-week this On in and Kroger's debt a is expect and net we're to We guidance, target next ratio operating we X.XX Home $XXX note on savings to years. ratio improvements Act capital off fund investment billion We Our merger EBITDA far to net into used basis adjusted with by total working to the three EBITDA a range other built total the taxes adjusted Ocado debt with is in X.XX so over great our million those
range. For into ratio borrowings range, the primarily above Home Kroger leverage leverage merger the investments target XXXX, of to remains the and in slightly bringing the expect increased Chef back ratio Ocado. fiscal remain to target to due to company's our the committed fund with remainder we
use grade achieve Our to investment to cash continually financial to our capital balance use is maintaining flow of shareholders. these growth, also our debt while rating free to and current returning cash goals. drive the flow strategy We
States billion pretax the $XXX Kroger's quarters, four a million paid sponsored incremental includes to last $X.X under $X.X company $X.X the million repurchased dividends pension fund. cash withdraw with business from convenience obligations an for after-tax the repurchase to stock and used proceeds in to unit accelerated We $XXX We plans, announced which billion, to satisfy Over store sale in million billion of previously invested and repurchased capital. plan. pension Central we've $X.X common the pretax contribute XXX billion shares
in investing career with We tax on and also certifications opportunities the a Kroger had in our development Restock through As will in three continued an program approximately of remaining an We're the end the addition the trainings. of and authorization. match our announced $XXX efforts pay our In to next associates a and performance also the and associates, for we areas. and contract in non-union incentives, Future wages, million recently Hampton second XXX-k Your in increased rebalance training of we Feed our investing in $XXX repurchase share incremental our quarter, Wayne be and over associates. current UFCW benefits, assistance This savings portion under to Roads covering Fort enrichment March, in educational years while million Kroger. focusing ratified
contracts currently Portland. Fred associates stores Smith's negotiating at and for Meyer are We in covering with in Albuquerque the UFCW
a quality, in find is between provide associates. compensation competitive objective balance benefits negotiation every health retirement care and solid fair Our affordable and our and wages, for reasonable that packages costs good to
We our overall package strive for continue to make relevant today's to benefit associates.
financial some be our and care Our which do inefficient of competitors pressured to results pension by health not face. continue costs,
for which unions, our business represent us our on security help communicate which and with enhance opportunities the importance profitably, jobs associates associates. of the growing create and our many to local and our more career international continue will unions We of job and
to now guidance for Turning XXXX.
expect $X.XX net diluted range an our quarter per to updated from identical of our gain share guidance per remains GAAP XXXX. any and and from diluted share $X.XX Ocado XXXX not due in predicted. ongoing $X.XX. to market growth to $X.XX those shares of be unrealized the range in range adjusted increase guidance XXXX. recorded because for earnings to Ocado On the value $X previous to range the second basis, the sales guidance excluding to in earnings This We reflect to $X.XX cannot for do X% continue We net to fuel X.X% is in changes shares
purchases excluding be approximately Rodney. We acquisitions now expect and I'll to continue And facilities through capital leased XXXX. of to investments, mergers, billion turn it to $X back
