WASHINGTON (FNS) -- After a disappointing 1.1% drop in first-quarter earnings, Publix Super Markets, Lakeland, Fla., rebounded to a 16.3% increase in earnings for the second quarter ended July 1, according to a recent filing with the Securities and Exchange Commission.
%. Net income increased 5.7% in the first half to $134.9 million.
In the first half, Publix had capital expenditures of $125.4 million, "primarily in connection with the opening of 21 new stores and the remodeling or enlarging of nine stores, which added 1.1 million square feet," according to the filing. Publix also continued construction work on a distribution facility in Lawrenceville, Ga., and closed three stores.
The company has allotted $174.6 million to new store construction for the second half, according to the filing.
