Publix’s Q3 Sales, Earnings Rise

Publix Super Markets Inc. reported third-quarter fiscal 2011 sales of $6.4 billion, a 5.5 percent increase from last year’s $6 billion. Comparable-store sales for the quarter rose 4.3 percent.

Net earnings for the third quarter of 2011 were $311.9 million, vs. $283.2 million in 2010, a 10.1 percent increase. Earnings per share for the third quarter rose to 40 cents for 2011, up from 36 cents per share last year.

Publix’s sales for the first nine months of 2011 were $19.7 billion, a 5.2 percent increase from 2010’s $18.8 billion. Comps for the first nine months of 2011 grew 3.7 percent.

Net earnings for the first nine months of 2011 were $1.1 billion, compared with $1 billion last year, an increase of 9.7 percent. Earnings per share increased to $1.39 for the first nine months of 2011, vs. $1.27 per share in 2010.

These amounts are based on unaudited reports that will be filed later this week with the U.S. Securities and Exchange Commission (SEC).

As of Nov. 1, Publix’s stock price had fallen from $22.05 per share to $20.20 per share. Publix stock isn't publicly traded and is sold only to current Publix associates and members of the company's board of directors.

“I’m pleased that our Publix associates delivered strong operating results,” said Ed Crenshaw, CEO of Lakeland, Fla.-based Publix, which operates 1,042 stores in Florida, Georgia, South Carolina, Alabama and Tennessee, and is privately owned and operated by its 150,000 associates. “Unfortunately, these results were not enough to offset the continuing challenges in the stock market.”