Publix Earnings Down for the Quarter But Steady for First Half of ‘24
Publix also released figures for the front half of the fiscal year. Sales climbed 4.1% during the first six months to reach $29.6 billion and comps went up 2%. Net earnings were identical, calculated at $2.3 billion for the opening six months of both FY 2023 and FY 2024.
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CEO Kevin Murphy lauded team members the employee-owned company for their performance. “Our associates make a difference for our customers and communities every day. I’m thankful for their efforts and commitment,” he said.
Meanwhile, Publix continues to invest in expansion. A new location in Wetumpka, Ala., opened this week at the Shoppes at Fort Toulouse, following other summer openings in Millbrook, Ala., Milledgeville, Ga., and Apollo Beach, Fla. Next up: a Publix slated to be unveiled at the Plaza at Normandy in Jacksonville, Fla. The retailer’s move north continues, too, as Publix recently announced a fourth location planned for northern Kentucky in the city of Florence.
Employee-owned and -operated Publix has 255,000-plus associates and more than 1,300 supermarkets in Florida, Georgia, Alabama, South Carolina, Tennessee, North Carolina, Virginia and Kentucky. The Lakeland, Fla.-based company is No. 12 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America. PG also named the company one of its Retailers of the Century.