Publix’s Q3 Sales, Earnings Rise Slightly
Publix Super Markets has reported sales for the third quarter of 2016 of $8 billion, a 2.4 percent increase from last year’s $7.8 billion, while the grocer’s comparable-store sales for the third quarter of 2016 went up by just 0.9 percent.
The company’s net earnings for the third quarter of 2016 were $421.1 million, versus $412.3 million in 2015, a 2.1 percent uptick. Its earnings per share for the third quarter grew to 55 cents for 2016, up from 53 cents per share last year.
Publix’s sales for the first nine months of 2016 were $24.9 billion, a 3 percent rise from 2015’s $24.1 billion. Comps for the first nine months of 2016 grew 1.8 percent.
Net earnings for the first nine months of 2016 were $1.5 billion, compared with $1.4 billion in the year-ago period, a 2.6 percent increase. Earnings per share rose to $1.92 for the first nine months of 2016, from $1.86 per share in 2015.
These amounts, based on unaudited reports, were filed with the U.S. Securities and Exchange Commission and posted on Publix’s website.
Effective Nov. 1, Publix’s stock price declined from $41.90 per share to $40.15 per share. Publix stock isn’t publicly traded and is sold only to current company associates and members of its board of directors.
“Unfortunately, our results were not enough to offset the challenges in the stock market,” noted Publix CEO and President Todd Jones. “I continue to be proud of our associates for delivering a premier customer shopping experience.”
Privately owned and operated by its 186,000 employees, Lakeland, Fla.-based Publix has 1,129 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.