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Publix Reports Q1 Sales Increase

LAKELAND, Fla. -- Publix Super Markets, Inc. here has reported a 10.6 percent sales increase for the first quarter of 2005. Sales were approximately $5.1 billion.

Comparable-store sales for the first quarter increased 6.4 percent. This figure includes approximately 1.3 percent of sales related to the early Easter holiday, which was in the second quarter of 2004.

Net earnings for the first quarter were approximately $259.1 million, compared to $203.4 million in 2004, an increase of 27.4 percent. Earnings per share were $1.50 for the first quarter of 2005, compared to $1.14 per share for the first quarter of 2004.

Publix said the amounts are based on unaudited reports that will be filed later this week with the U.S. Securities and Exchange Commission.

Based on the most recent appraisal, Publix's stock price increased from $64 per share to $66.50 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

"I'm proud of all the Publix associates who have worked hard every day to deliver quality, value, and excellent service to our customers," Publix c.e.o. Charlie Jenkins Jr. said in a statement. "It's their hard work and dedication that has resulted in yet another increase in our stock price."
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