Publix posted a positive second quarter performance, with growth in both net sales and earnings.
Net sales for the second quarter ended June 29, 2019, were $9.3 billion, a 6.8% increase from $8.8 billion in 2018. Comparable store sales increased 4.8%. The company estimates the increase in sales compared to the previous second quarter was 1.2% higher due to the effect of the Easter holiday being in the second quarter in 2019 and in the first quarter in 2018.
Net earnings in the second quarter were $661.1 million, compared to $616.2 million in 2018, an increase of 7.3%. Earnings per share increased to $0.92 per share, up from $0.84 per share in 2018.
“I’m pleased that our Publix associates delivered good operating results,” said Todd Jones, Publix CEO. “We continue to provide premier service to help offset the challenges in the stock market.”