LAKELAND, Fla. — Publix Super Markets said Tuesday that net income increased 2.8% during the first quarter behind a 4.2% gain in sales.
Publix stock was subsequently valued at $22.70 a share, up from $22.40, officials said. Publix stock is held by directors and employees only and is not publicly traded.
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"I'm pleased we had another increase in our stock price during a time of economic challenges," Ed Crenshaw, chief executive officer, said in a statement. "Our associates deserve the credit for continuing to make us a leader in our industry."
The company said comparable-store sales improved by 3.3% during the quarter. Net sales totaled $7.1 billion and earnings totaled $409.4 million. The company said it would file a quarterly report with additional detail with the Securities and Exchange Commission May 10.