Publix Q2 results show 8.9% sales increase

Publix has reported strong second-quarter results with sales for the three months ending July 1, 2023, at $14.1 billion, an 8.9% increase from $12.9 billion in 2022. Comparable store sales for the same period also increased by 6.2%.

Last quarter, Publix CEO Todd Jones said he was “proud” of an over 100% jump in net earnings after the grocery retailer produced $1.2 billion in Q1 2023 compared to $618 million in ’22. This quarter, net earnings for Q2 were $1.1 billion compared to $628 million in 2022, which is still a substantial increase of 74.7%.

“As we enter the last half of the year, our associates remain focused on operational excellence and providing premier customer service,” said Jones.

Publix has recently expanded into new markets in the Carolinas and Virginia in addition to the anticipated Kentucky location where it readies for a store opening with a digital intro to Kentuckians. It also has more locations underway in Kentucky including two more stores in Louisville and two planned for Lexington.