LAKELAND, Fla. — Publix Super Markets on Monday reported improved sales and earnings in the second quarter.
Sales of $6.2 billion increased 3.4% from last year’s $6 billion, while comparable-stores increased by 2.4%. Net earnings improved 15.8% to $348.4 million and earnings per share were 44 cents, up from 38 cents. Publix in last year’s second quarter saw sales decrease by 2.6%.
For the first half of the year, sales of $12.7 billion are up by 2.7% as compared to 2009. Comparable-store sales for the first half increased 1.6%.
Effective Aug. 1, Publix’s stock price decreased from $18.50 per share to $18.45 per share, the company said. 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 that our Publix associates delivered strong operating results,” Ed Crenshaw, chief executive officer of Publix, said in a statement. “Unfortunately, these results were not enough to offset the continuing challenges in the stock market.”