Publix Q2, 1st-half Sales Up
Publix Super Markets has reported $7 billion in sales for its second quarter of 2013, a 3.8 percent rise from last year’s $6.8 billion. Sales for the second quarter were adversely affected by about 1.3 percent because of Easter’s occurrence in the first quarter of 2013, while it fell in the second quarter of 2012. Comparable-store sales for the second quarter of 2013 grew 2.1 percent.
Net earnings for the quarter were $400.9 million, versus $381.6 million in 2012, an increase of 5 percent, while earnings per share edged up to 51 cents, up from 49 cents per share in the year-ago period.
The Southeast regional grocer’s sales for the first half of 2013 were $14.5 billion, a 5 percent rise from 2012’s $13.9 billion. Comps for the first half of 2013 grew 3 percent.
Publix’s net earnings for the first half of 2013 were $872.1 million, compared with $791 million in 2012, a 10.3 percent increase. Earnings per share grew $1.12 for the first half of 2013, from $1.01 per share in 2012.
Effective Aug. 1, Publix’s stock price increased from $26.90 per share to $27.55 per share. Publix stock is not publicly traded and is sold only to current Publix associates and members of the company’s board of directors.
“I’m proud our operating performance resulted in another increase in our stock price,” said Ed Crenshaw, CEO of Lakeland, Fla.-based Publix. “Our Publix associates continue to work hard every day to deliver premier customer service that makes shopping a pleasure.”
Publix operates 1,072 stores in Florida, Georgia, South Carolina, Alabama and Tennessee, and is privately owned and operated by its 160,500 associates.