LAKELAND, Fla. — Publix Super Markets here said Monday that sales and earnings climbed in the first quarter despite a continuing weak economy.
Sales for the first quarter totaled $6.8 billion, a 4.4% increase from a year ago. Comparable-store sales for the first quarter of 2011 increased 2.8%. Net earnings for the first quarter were $398.2 million, compared with $364.4 million in 2010, an increase of 9.3%, the company added. Earnings per share for the first quarter increased to 51 cents for 2011, up from 47 cents. Publix stock is available only to its employees and directors.
“Although the economy continues to be weak, I’m pleased our strong operating performance resulted in another increase in our stock price,” Ed Crenshaw, Publix’s chief executive officer, said in a statement. “Our Publix associates continue to make us a leader in our industry.”
