LAKELAND, Fla. — Publix Super Markets saw earnings rebound in the third quarter despite flat sales and falling comparable-store sales results.
The retailer here on Monday reported quarterly earnings of $254.9 million on sales of $5.8 billion for the period ending Sept. 30. Earnings increased 26.3% from the same period last year, when earnings fell by 18.9%. Sales were up 0.6%, while comparable-store sales fell by 4.7%.
Publix stock, which is available only to directors and employees, increased to $16.30 per share from $16.05 a share, based on an appraisal.
For the nine-month period, Publix reported earnings of $877.3 million — a 4.4% increase — on sales of $18.2 billion. Sales are up 1.2% for the year to date while comps are down by 3.4%.
The company said it would publish more detailed quarterly information with the Securities and Exchange Commission this week.
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