Publix Posts Higher Q1 Sales, Earnings
Publix Super Markets Inc. has posted sales for its first quarter of 2013 of $7.5 billion, a 6.1 percent increase from last year’s $7.1 billion. The Easter holiday, which took place during the first quarter of 2013, boosted sales by about 1.3 percent. Comparable-store sales for the first quarter of 2013 grew 3.9 percent.
Net earnings for the first quarter of 2013 were $471.3 million, versus $409.4 million last year, a 15.1 percent increase. Earnings per share for the first quarter rose to 61 cents for 2013, from 52 cents per share in the year-ago period. As was the case with sales for the quarter, net earnings and earnings per share benefited from the early Easter holiday.
As of May 1, Publix’ stock price increased from $23.20 per share to $26.90 per share. The company’s stock is not publicly traded and is made available for sale only to current associates and members of its board of directors.
“I’m very pleased that our strong operating performance and improvements in the stock market resulted in a significant increase in our stock price,” noted Ed Crenshaw, CEO of Publix, which is privately owned and operated by its 158,000 employees. “I want to thank our associates -- the owners of Publix -- for continuing to make us a leader in our industry.”
Lakeland, Fla.-based Publix has 1,069 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.