LAKELAND, Fla. — Publix Super Markets here said net earnings improved by 1.7% on a 2.7% sales gain for the second quarter. However, comparable-store sales decreased by 2.6%.
Publix’s stock, which is not publicly traded and available only to directors and employees, was increased by 50 cents a share to $16.05.
“Although the economy continues to be weak, I’m pleased with the improvement in our operating results and stock price,” said Ed Crenshaw, chief executive officer, said in a statement. “I congratulate our associates for continuing to deliver premier customer service.”
For the quarter, Publix earned $300.8 million, or 38 cents per share, on sales of $5.9 billion. Net earnings for the first half of 2009 were $622.3 million, a decrease of 2.6%, on sales of $12.4 billion. Sales were down 2.4% compared with the same period last year, and comps were down 2.7%.
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