Easter Holiday Impacts Publix Q1

For the first quarter, Publix’s sales were $8.69 billion, a 0.4% decrease from last year’s period as the Easter holiday timing affected results, the company stated.

The Easter holiday fell in the 2017 second quarter, Publix pointed out, but in 2016 it occurred in the first quarter. The company estimated that the timing of Easter diminished sales by approximately 1.2%.

Comparable store sales decreased 2.1% versus the quarter in the year previous.

Net earnings were $555.3 million, down from $581.9 million in the period a year prior as earnings per share decreased to 73 cents from 75 cents.