Retail News Breaks Archives
Publix reports sales gain in first quarter
May 1st, 2014
LAKELAND, Fla. – Publix Super Markets Inc. posted a 4% increase in comparable-store sales for the first quarter of 2014, according to unaudited results the company will file Thursday with the Securities and Exchange Commission.
Total sales for the three-month period ended March 29 were $7.8 billion, a 4.1% increase from last year’s $7.5 billion.
The company estimates that sales were hurt by 1.3% because the Easter holiday, which occurred during the first quarter last year, fell during the second quarter this year.
Publix reported that its net earnings for the first quarter were $493.7 million, up 4.8% compared to the prior-year period. Earnings per share for the quarter increased to 63 cents, up from 61 cents per share in 2013.
The company also announced that, effective May 1, its stock price increased from $30.15 per share to $32.50 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
"I’m proud of our Publix associates, who continue to deliver premier customer service," said Publix chief executive officer Ed Crenshaw. "Our good operating performance is a result of their hard work and dedication."