Publix net up nearly 16% in second quarter

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LAKELAND, Fla. — Publix Super Markets Inc. reported a 15.8% increase in net earnings to $348.4 million for the second quarter of fiscal 2010, with earnings per share rising to 44 cents from 38 cents per share in the fiscal 2009 quarter.

Publix Super Markets Inc. reported a 15.8% increase in net earnings to $348.4 million for the second quarter of fiscal 2010, with earnings per share rising to 44 cents from 38 cents per share in the fiscal 2009 quarter.

Second-quarter sales expanded 3.4% to $6.2 billion, as comparable-store sales grew 2.4%.

First-half sales totaled $12.7 billion, up 2.7%, while comparable-store sales improved 1.6%. Net earnings for the half jumped 14.5% to $712.8 million, or 91 cents per share.

The company reported that as of August 1, its stock price decreased to $18.45 per share from $18.50. The stock is not publicly traded and is available for sale only to current Publix associates and members of the board of directors.

"I’m proud that our Publix associates delivered strong operating results," said chief executive officer Ed Crenshaw. "Unfortunately these results were not enough to offset the continuing challenges in the stock market."


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