Kroger (KR) stock led S&P 500 gainers soon after the opening bell Friday as the grocery giant reported fiscal first-quarter profit and identical sales growth that came in above analysts’ projections.

The company reported adjusted earnings per share (EPS) of $1.49 on revenue that edged lower year-over-year to $45.12 billion. Analysts surveyed by Visible Alpha had forecast $1.45 and $45.21 billion, respectively.

Kroger’s identical sales, which excludes fuel due to its more volatile pricing, rose 3.2%, better than the 2.3% increase that analysts had projected.

CFO Says Macro Environment ‘Remains Uncertain’

“While first quarter sales and profitability exceeded our expectations, the macroeconomic environment remains uncertain and as a result other elements of our guidance remain unchanged,” CFO David Kennerley said.

Kroger did not give an update on its search for a new CEO, after its previous leader, Rodney McMullen, abruptly resigned days before last quarter’s report following a company investigation into alleged misconduct.

The retailer lifted its identical sales growth forecast for the full year to 2.25% to 3.25%, and affirmed the rest of its full-year projections. Last quarter, Kroger said it expected fiscal 2025 identical sales growth without fuel of 2% to 3% and adjusted EPS of $4.60 to $4.80.

Kroger shares were up nearly 6% soon after markets opened. They have risen 13% since the start of the year.

Friday’s report is Kroger’s second since its proposed merger with Albertsons Companies (ACI) was called off after a judge ruled against it. The companies have since been entwined in legal fights, each accusing the other of violating their agreement.

UPDATE—This article has been updated with the latest share price information.