Kroger's sales are climbing as consumers cook more at home

Kroger Co. raised its full-year sales forecast, illustrating that the grocer is attracting value-seeking consumers who are opting to eat at home.

The company said it now expects comparable sales, excluding fuel, to gain as much as 3.4%, versus its previous guidance calling for a 3.25% increase.

Kroger’s shares rose as much as 4.4% in premarket trading. The stock had gained about 10% this year through Wednesday’s close.

Food retailers have posted steady sales in recent years, benefiting from shoppers prioritizing necessities even as they cut spending elsewhere. People are staying cautious overall, buying things on sale or purchasing cheaper items.

The grocery chain’s comparable sales and adjusted earnings beat expectations during the latest quarter, driven by higher sales of fresh food,