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Sales at Publix jump 20% in second quarter

Southeastern grocer estimates 16.1% lift from COVID-19 impact

Russell Redman

August 3, 2020

2 Min Read
Publix_supermarket-exterior_photo.jpg
For the quarter ended June 27, sales at Pulbix Super Markets climbed 21.8% to $11.4 billion from $9.3 billion a year earlier,Publix Super Markets

Publix Super Markets saw net and comparable sales surge about 20% in the fiscal 2020 second quarter, fueled by coronavirus-triggered demand.

For the quarter ended June 27, sales climbed 21.8% to $11.4 billion from $9.3 billion a year earlier, Lakeland, Fla.-based Publix said Monday. Comp-store sales grew 19.9% for the period year over year.

Similarly, double-digit sales gains were recorded in the fiscal 2020 first half, with net sales rising 18.9% to $22.6 billion and same-store sales advancing 17.1% versus a year ago.

Publix estimated that second-quarter sales jumped 16.1%, or $1.5 billion, and first-half sales were up 13.1%, or $2.5 billion, as a result of higher demand amid the COVID-19 pandemic.

“Our associates’ efforts to serve our customers and communities have been remarkable,” Publix CEO Todd Jones said in a statement. “I want to thank our associates for the comfort they bring to our customers and their fellow associates during this difficult time. It is heartwarming to see how much they care.”

On the earnings side, net income for the second quarter totaled $1.4 billion, or $1.94 per share, compared with $661.1 million, or 92 cents per share, in the prior-year period. Adjusted net income, which excludes the impact of net unrealized gains on equity securities, was $978.3 million, or $1.39 per share, versus $637 million, or 89 cents per share, a year earlier.

Related:Publix goes chainwide with Instacart Meals ‘digital deli’

Net earnings for first six months of fiscal 2020 came in at $2 billion, or $2.89 per share, compared with $1.6 billion, or $2.29 per share, in the fiscal 2019 first half. On an adjusted basis, backing out the impact of net unrealized gains on equity securities, net earnings for the 2020 first half were $1.9 billion, or $2.74 per share, versus $1.4 billion, or $1.92 per share, in the year-ago period.

As of Aug. 1, Publix’s stock price stood at $54.35 per share, up from $50.10 when the company reported first-quarter results on May 1 and $48.90 at the fiscal 2019 year-end report on March 1. As an employee-owned company, the grocer doesn’t publicly trade its shares, which are available for sale only to current Publix associates and board members.

Publix operates 1,252 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia, up from 1,222 stores a year ago.

For our most up-to-date coverage, visit the coronavirus homepage.

Read more about:

Publix Super Markets

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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