Strong grocery-store performance helped Kroger Co. post solid results for the fourth quarter and full year in 2000, the company said Thursday.

        Excluding a one-time charge of $14.8 million, the Cincinnati-based supermarket giant said fiscal fourth-quarter earnings rose to $400.7 million, or 48 cents a diluted share, from $315.7 million, or 37 cents a share, a year earlier.

        That met the average estimate of analysts polled by First Call/Thomson Financial, which had forecast share earnings of 48 cents for the quarter that ended Feb. 3.

        With the one-time charge, Kroger said earnings were 44 cents a share.

        Total sales rose 13 percent to $12.7 billion from $11.2 billion a year earlier, primarily driven by sales of groceries and private-label goods, Kroger said.

        “Our sales and earnings growth in the fourth quarter were driven by strong results in Kroger's core supermarket business and our manufacturing facilities,” Joseph A. Pichler, Kroger's chairman and chief executive officer, said. And “the market share for corporate brands such as Private Selections is growing in every region.”

        Kroger also has benefited from cost cuts stemming from its $13.5 million purchase of Fred Meyer in May 1999.

        Excluding charges, Kroger reported fiscal 2000 earnings of $1.34 a diluted share, up 21 percent from restated earnings of $1.11 a diluted share for fiscal 1999.

        Kroger announced in early March that it would restate earnings for the past two years because of accounting irregularities at its Southern California-based Ralphs Grocery unit.

        Sales for the full year rose 8 percent to $49 billion, Kroger said.

        The company also reaffirmed forecasts, saying it remains comfortable with annual earnings-per-share growth of 16 percent to 18 percent through fiscal 2002.

        Looking ahead, the company expects 15 percent annual earnings-per-share growth.

        In another report:

        • Cintas Corp: The Mason-based uniform supplier reported third-quarter earnings of $54.9 million, or 32 cents a share, up 12 percent from the $49.1 million, or 29 cents a share, reported a year ago.

        Revenues rose 13 percent to $537 million from $474 million a year ago. The results met the average earnings per share estimate of analysts surveyed by First Call/Thomson Financial.

        The company said it remained comfortable with lowered expectations for the fiscal year ending May 31. In late February, Cintas said it expected earnings in the range of $1.30 to $1.32 a share, down from previous estimates of $1.33 to $1.35 a share. Revenues are expected in the range of $2.15 billion to $2.18 billion, down from the previous expectations of $2.17 billion to $2.2 billion.

        The company said the lower expectations for the year reflect the impact of a slower economy.

Firstar Center files for protection
Broker buys most of Donahue
Caution light on as market calms
Shoppers check opening of Saks discount outlet
Earnings: Kroger Co.
New talks slated for Delta, pilots
Industry notes: Manufacturing
Business Digest
Morning Memo
Tristate Business Summary
What's the Buzz?