Publix Posts Q1 Sales, Earnings Gains

JON SPRINGER

LAKELAND, Fla. — Publix Super Markets here on Monday posted increases in sales and net earnings for its fiscal first quarter, rebounding from a difficult period in 2009. Sales of $6.5 billion increased by 2.1%, with comparable-store sales up by 0.9%.

Net earnings of $364.4 million increased by 13.3%, after a 6.3% decline in the first quarter last year. Earnings per share for the first quarter increased to 47 cents, up from 41 cents per share in 2009. Publix’s stock price increased from $17.35 per share to $18.50 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

“I’m proud of all the Publix associates who have worked hard to continue delivering premier customer service in these difficult times,” Ed Crenshaw, Publix’s chief executive officer, said in a statement. “Our improved operating performance is a result of their hard work and dedication.”

The company said it would provide more details in a report to federal regulators later this week.

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