Kroger
Q1 2022 Earnings Call
Jun 16, 2022, 10:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello, and welcome to the Kroger Co. first quarter earnings call. My name is Alex, and I'll be coordinating the call today. [Operator instructions] I will now hand over to your host, Rob Quast, director of investor relations.
Over to you, Rob.
Rob Quast -- Director, Investor Relations
Good morning. Thank you for joining us for Kroger's first quarter 2022 earnings call. I am joined today by Kroger's chairman and chief executive officer; Rodney McMullen; and our chief financial officer, Gary Millerchip. Before we begin, I want to remind you that today's discussions will include forward-looking statements.
We want to caution you that such statements are predictions, and actual events or results can differ materially. A detailed discussion of the many factors that we believe may have a material effect on our business on an ongoing basis is contained in our SEC filings. The Kroger Company assumes no obligation to update that information. After our prepared remarks, we look forward to taking your questions.
[Operator instructions] In response to your feedback on allowing more participants during Q&A, we may provide abbreviated responses to your follow-up questions to hear from as many of you as we can. I will now turn the call over to Rodney.
Rodney McMullen -- Chairman and Chief Executive Officer
Thank you, Rob. Good morning, everyone, and thank you for joining us today. We're off to a great start in 2022, delivering strong performance by successfully executing our strategy of Leading With Fresh and Accelerating With Digital. Our associates' relentless focus on providing fresh, affordable food to our customers is driving our strong results.
During the quarter, we demonstrated the resilience of our business model led by strong top-line sales ahead of internal expectations. In addition, our team navigated a challenging operating environment characterized by continued inflationary cost pressures and supply chain headwinds, which included higher diesel fuel costs. Through our strategic cost savings execution and sustained food-at-home trends, our team delivered 16% growth in adjusted FIFO operating profit, providing once again the strength of our financial model in a variety of operating environments. Our teams are focused on delivering a great customer experience with zero compromise.
Rising inflation, as consumers rethinking their shopping and eating habits, while customers continue to cook more, we are seeing different shopping behaviors based on how individual customers are experiencing the current inflationary environment. Many customers continue to shop premium products throughout the store, including Private Selection, Murray's Cheese, and deluxe meal solutions. For other customers whose budget are more directly impacted by food and fuel inflation, they are actively looking for ways to save. We're doing everything we can to help this customer stretch their budgets.