Comps Up 4 Percent in Q2 for Publix

LAKELAND, Fla. -- Based on unaudited reports to be filed next week with the U.S. Securities and Exchange Commission, Publix Super Markets, Inc. here posted sales for the second quarter of 2007 of $5.7 billion, a 5.9 percent rise from $5.3 billion last year, while comparable-store sales for the quarter grew 4 percent.

The Southeast retailer's second-quarter net earnings increased 16.1 percent, to $306.4 million, vs. $264 million in the year-ago period, and earnings per share were 36 cents for the quarter, compared with 31 cents per share last year.

Publix's sales for the first half of 2007 came to $11.5 billion, a 6.3 percent rise from last year's $10.9 billion. Net earnings for the half were $624 million, vs. $552.4 million in 2006, a jump of 13 percent. Earnings per share grew from 65 cents for the first half of 2006 to 74 cents for the first half of 2007.

"I'm pleased our good results were able to offset relatively poor stock market performance," noted Publix c.e.o. Charlie Jenkins Jr. in a statement.

According to the latest appraisal, Publix's stock price remains at $20.90 per share. Publix stock is not publicly traded and is sold only to current Publix associates and members of its board of directors.

Publix operates 907 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.
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