Publix Sales, Comps Up in Q3

Publix reported sales gains in both the third quarter and the first nine months of 2015, though the grocer's stock price dipped from $42 to $41.80 per share, due to continued "challenges in the stock market," according to CEO Ed Crenshaw.

The Lakeland, Fla.-based company delivered $7.8 billion in sales in Q3, up 6.3 percent from $7.4 billion in the year-ago period, while comps edged up 4.2 percent.

Net earnings in Q3 came to $412.3 million, compared to $384.2 million last year, an increase of 7.3 percent. Earnings per share edged up to $0.53, from $0.49 per share in 2014.

Additionally, Publix sales came to $24.1 billion for the first nine months of the year, a 6.4 percent increase from last year’s $22.7 billion, while comps were up 4.5 percent.

Net earnings for the grocer came to $1.4 billion, up 12.6 percent from $1.3 billion in the same period a year ago. The grocer delivered earnings per share of $1.86 for the first nine months, up from $1.64 last year.

Publix operates 1,106 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.