Rodney attend you were I Thanks, everyone. good last want and to echo webcast able Rodney, Day the view thank those of who month. to and or morning, Investor
believe the ecosystem. loyalty. As model obsession We York, sales begins experience a with we digital we and focus our customers execution business customer identical driving our strong and New store retail and value shared increasing with in intensified deliver and on in that our is improvements customer our for for supermarket durable continued across increased and the our
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the demonstrating disciplined investments in are savings deliberate the balancing very cost that of first simplify quarters being we We are of year business. our these through with execution three
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growing our total shareholders and shareholder attractive dividend over and continued this and time free EPS expect cash deliver strong time. strong repurchase, through consistently the to model to we flow, plus driven results and expect earnings a return of improved over by growth operating via share a cash to We net growth translate into sustained return
share to third like I'd quarter Now results.
diluted the EPS adjusted we quarter, of share. delivered For $X.XX an per
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charge the was million dry original the grocery, pharmacy to and inflation year approximately estimate year to of the period compared expectation LIFO million. $XX for $XX We for $XX for in our dairy. million same LIFO $XX quarter driven be by million last now versus
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like Market. Lucky's now talk about I'd to
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review, of our evaluate portfolio the Lucky's decision alternatives Market. in strategic part a relation made in to As investment to we
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the in financial provided tables press of are our details release. Additional
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the fuel quarter goods retail excluding alternative and cost offset continued improved businesses pharmacy, rate, price and in in savings slightly margin as growth investments. Gross of
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savings billion XXXX billion savings achieve We top track the over on to cost year. $X $X of on of in achieved last remain
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navigating is disruptive retail change. through industries, many Like grocery
As part the of the to closest store talent divisions roles they roles operating have the customers in our in evaluated recently right to middle evolution, store company's right ongoing ensure positions. reduced and leadership management
quarter Kroger result, charges $XX incurred totaling a As the third million. severance in
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amount Rodney customer loyal fuel lower paid mentioned, third the sales, the rewards and of by increased As to is customers trips driving X% and fuel quarter. in
The average retail quarter of this quarter same last in fuel $X.XX $X.XX price versus year. was the
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are an growth and Finance XXXX. the primary in Personal continue be $XXX streams to on contribute year. incremental operating profit drivers of to Kroger in million profit Alternative track Media this
build Kroger brands XX% engagement over continues with significantly higher retention and Marketing Precision a to to increasing momentum, spend. rate X,XXX
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relationships release continues new new of create advertisers. the business to demand Media support and to Our inventory publisher
now update on to relations. labor And
that As our many factored are comprehensive previously we proud benefits of is competitors offer. have in, $XX don't shared, that benefits over rate we average our hourly with
of improving in in in employee associates, of markets result Kroger's labor a As we tightest the investments one retention years. are our
Restock wages, associates and variety ways, as development. We of Kroger training to of in invest continue in investments a including in our part
We labor Michigan covering in and agreements Portland, UFCW the new Southern during Seattle the associates quarter. ratified with California,
for Vegas We the UFCW with are in and currently associates store negotiating contracts covering Las Memphis.
benefits our relevant balance find costs a Our wages, to and objective retirement our strive benefit and between fair good to for package care in overall reasonable and make health every is packages affordable associates. associates. We negotiation quality, compensation solid that competitive today provide to
by which Our financial competitors care health do results continue costs, inefficient and pension not our pressured of face. to be some
of enhance communicate We the associates. opportunities to help international our job our in associates continue unions with more a career local the which way, and many us and represent our profitable security jobs and will unions create our on of growing which business importance for
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net committed within of We to XXXX to flow to total cash ratio prioritize X.X. in X.X debt free EBITDA target range to reduce the to our company's adjusted
the XX debt quarter to EBITDA compared ratio Kroger's ago. billion, target reduced last X.X debt net for We committed the net has remain Over adjusted total and by our EBITDA a $X.X months, net third XXXX X.XX is adjusted to to to year of debt total range.
shares to a and EPS. we as generate target to buy we that not range, $X on starting fourth our flow, material back quarter anticipate under our is This within operating billion expected we authorization. cash the free in have Board impact quarter strong to Now are expect fourth
Turning now XXXX. to for guidance
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quarter. third the expect to in similar be fourth identical will growth We underlying quarter sales
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fourth quarter adjusted influenced on to the fourth at will guidance an fuel were last quarter expect basis. adjusted EPS growth with we four to double-digit heavily Where EPS deliver in the land continue highs which margins annual by our We range be quarter, record year. in
also market January in influence shopping customers' behaviors SNAP lower dollars the Our in will outcome. the affected by
confident we As months share year, our XXXX provided New quarter the guidance report in results in shared in Day fourth York. March. guidance typically this We when several guidance for last remain at that you we our know, Investor month early. But XXXX annual we we
I'll And turn Rodney. now it back to
