Publix grew both its net sales and earnings in a positive second quarter.
Sales for the second quarter were $8.4 billion, a 3.6% increase from last year’s $8.1 billion. Comparable store sales for the second quarter increased 1.6%. Sales for the second quarter of 2017 were positively impacted by 1.2% due to the effect of the Easter holiday being in the second quarter in 2017, the company noted. In 2016, the effect of the Easter holiday was in the first quarter.
Net earnings for the second quarter of 2017 were $495.1 million, compared to $478.2 million in 2016, an increase of 3.5%. Earnings per share for the second quarter increased to $0.65 for 2017, up from $0.62 per share in 2016.
“This has been a tough quarter for supermarket companies in the stock market,” said Todd Jones, Publix CEO and president. “We continue to be focused on growing sales and profits while providing premier customer service.”
Publix operates 1,150 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.