We increased our quarterly dividend payment by almost 10%, and we implemented an aggressive stock buyback program using Kroger's strong free cash flow to repurchase 67 million shares… as we look to 2012, we expect the external environment to be a little better than 2011. All of the data we're seeing suggests the overall economy and customer sentiment are improving. These results speak to the company's clear fundamental sound and allude to a stronger economic landscape for grocers in 2012. From a stock perspective, KR is "cheaper" than its peers due to a low valuation. For this reason, KR has strong upside potential if the company can continue to show strong revenue and profit. Forward Price/Earnings: The PE ratios below illustrate that KR is priced below its peer groups' PE ratio. The