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Publix Reports Sales Up, Net Earnings Down For Q3

Monday November 4th, 2013 - 10:03AM

For the third quarter, Publix posted sales of $7 billion, up 5.6%. The supermarket operator stated that comparable-store sales increased 4.1% for the period.

Net earnings were $359.9 million versus $368.4 million in the 2012 quarter, while earnings per share decreased to 46 cents from 47 cents in previous-year period.

Effective Nov. 1, 2013, Publix's stock price increased to $30 per share from $27.55. Publix stock is not publicly traded but rather made available for sale to current Publix associates and members of its board of directors.

"I'm very pleased we had another significant increase in our stock price, resulting in a 33% increase in our stock price over the last year," said CEO Ed Crenshaw. "Our associates continue to deliver premier customer service, the key to our success."