Publix’ Q3 Sales, Earnings Grow

LAKELAND, Fla. — Publix Super Markets on Thursday said that sales and earnings grew in the third quarter despite a weak economy.

The chain said sales improved 4.4% to $6.7 billion, while comparable-store sales improved by 2.5%. Net earnings totaled $368.4 million, an increase of 18.1% from the same period last year.

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Publix' sales for the first nine months of 2012 were $20.5 billion, a 3.9% increase. Comparable-store sales for the year are up by 2.6%. Publix said its stock value was raised to $22.50 a share from $22 effective Thursday. Publix stock is held by its employees and directors only.

"Although the economy continues to be weak, I'm pleased with the improvement in our operating results and stock price," Ed Crenshaw, Publix’ chief executive officer, said in a statement. "I congratulate our associates for continuing to deliver exceptional customer service."