Q1 Sales Up at Publix

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Q1 Sales Up at Publix

Publix’s sales for the first quarter of 2010 came to $6.5 billion, a 2.1 percent increase from last year’s $6.4 billion, while comparable-store sales for the quarter grew 0.9 percent.

Net earnings for the first quarter were $364.4 million, vs. $321.5 million last year, a rise of 13.3 percent. Earnings per share for the first quarter were 47 cents for the quarter, up from 41 cents per share last year.

According to Publix CEO Ed Crenshaw, “Our improved operating performance is a result of [associates’] hard work and dedication” during tough economic times

Publix’s stock price rose from $17.35 per share to $18.50 per share. The privately owned company’s stock is sold only to current Publix associates and board members.

Operated by its 141,000 employees, Lakeland, Fla.-based Publix has 1,016 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.