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Publix sales, earnings edge up in Q3

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LAKELAND, Fla. — Publix Super Markets Inc. reported sales of $8 billion for its fiscal third quarter, up 2.4% increase over last year’s $7.8 billion. Comparable-store sales increased 0.9%.

Net earnings for the third quarter of 2016 were $421.1 million, compared to $412.3 million in 2015, an increase of 2.1%. Earnings per share for the third quarter increased to $0.55 for 2016, up from $0.53 per share in 2015.

Publix’s sales for the first nine months of 2016 were $24.9 billion, a 3% increase from last year’s $24.1 billion. Comparable-store sales for the nine months 1.8%.

Net earnings for the first nine months of 2016 were $1.5 billion, compared to $1.4 billion in 2015, an increase of 2.6%. Earnings per share increased to $1.92 for the first nine months of 2016, up from $1.86 per share in 2015.

Publix, which is privately owned and operated by its 186,000 employees, reported that, effective November 1, its stock price decreased from $41.90 per share to $40.15 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.)

“Unfortunately, our results were not enough to offset the challenges in the stock market,” said Publix president and chief executive officer Todd Jones. “I continue to be proud of our associates for delivering a premier customer shopping experience.”


ECRM_06-01-22


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