Publix Reports Higher Q2 Sales, Earnings
Publix Super Markets Inc. has posted sales for the second quarter of 2011 of $6.6 billion, a 5.8 percent increase from last year’s $6.2 billion. Comparable-store sales for the second quarter of 2011 grew 4.2 percent, according to the Lakeland, Fla.-based grocer.
Net earnings for the second quarter of 2011 were $382.4 million, vs. $348.4 million in the year-ago period, an increase of 9.7 percent, the company said. Earnings per share for the second quarter rose to 48 cents for 2011, up from 44 cents per share last year, Publix noted.
Publix’s sales for the first half of 2011 were $13.4 billion, a 5.1 percent increase from 2010’s $12.7 billion. Comps for the first half of 2011 went up 3.5 percent.
Net earnings for the first half of 2011 came $780.5 million, compared with $712.8 million in the year-ago period, a 9.5 percent rise. Earnings per share increased to 99 cents for the first half of 2011, vs. 91 cents per share in 2010.
Effective Aug. 1, Publix’s stock price rose from $21.65 per share to $22.05 per share. The company’s stock isn’t publicly traded and is sold only to current Publix associates and members of the grocer’s board of directors.
“I’m proud our good operating performance resulted in another increase in our stock price,” noted Publix CEO Ed Crenshaw. “I congratulate our associates for continuing to deliver premier service.”
Privately owned and operated by its 148,500 employees, Publix has 1,036 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.