Kroger Gives Upbeat Outlook While Questions Swirl Around CEO (3)

Kroger Co. forecast higher-than-expected sales guidance, seeking to pacify concerns as questions linger about its chief executive officer’s abrupt exit.

The Cincinnati-based grocer said comparable sales excluding fuel will grow between 2% and 3%, the higher end of what Wall Street analysts surveyed by Bloomberg were expecting.

But its adjusted earnings forecast for the fiscal year was lower than expectations, partly as lower pharmacy margins and other investments weigh on profit.

Shares rose 3% at 11 a.m. in New York trading on Thursday. The grocer’s stock is up around 24% over the last 12 months, ahead of the S&P 500 ...