US: Q2 dip fails to stop higher H1 profits at Publix
By Dean Best | 2 August 2012
- Q2 profits dip but increase in H1
- Sales up in Q2 and H1
 |
Publix operates 1,055 stores in the south of the US |
A fall in second-quarter earnings has failed to stop employee-owned US retailer Publix from reporting half-year profits.
Publix, which operates 1,055 stores in the south of the US, said today (1 August) its net earnings dipped 0.2% in the second quarter of 2012 to US$381.6m.
However, the retailer booked a 1.3% rise in first-half earnings to $791m.
A 3.2% increase in second-quarter sales to $6.8bn led to a 3.7% gain in the first half to $13.4bn.
Quarterly comparable-store sales were up 1.9%. In the first half, comparable-store sales rose 2.6%.
August 01, 2012 02:56 PM Eastern Daylight Time
Publix Reports Second Quarter 2012 Results and Stock Price
LAKELAND, Fla.--(BUSINESS WIRE)--Publix’s sales for the second quarter of 2012 were $6.8 billion, a 3.2 percent increase from last year’s $6.6 billion. Comparable-store sales for the second quarter of 2012 increased 1.9 percent.
Net earnings for the second quarter of 2012 were $381.6 million, compared to $382.4 million in 2011, a decrease of 0.2 percent. Earnings per share for the second quarter increased to $0.49 for 2012, up from $0.48 per share in 2011.
Publix’s sales for the first half of 2012 were $13.9 billion, a 3.7 percent increase from last year’s $13.4 billion. Comparable-store sales for the first half of 2012 increased 2.6 percent.
Net earnings for the first half of 2012 were $791 million, compared to $780.5 million in 2011, an increase of 1.3 percent. Earnings per share increased to $1.01 for the first half of 2012, up from $0.99 per share in 2011.
These amounts are based on unaudited reports that will be filed next week with the U.S. Securities and Exchange Commission (SEC). The company’s quarterly report to the SEC, Form 10-Q, will be available Aug. 9 on its website at www.publix.com/stock.
Effective Aug. 1, 2012, Publix’s stock price decreased from $22.70 per share to $22.00 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“The economy continues to affect our results and stock price,” said Publix CEO Ed Crenshaw. “During these difficult times, our associates remain focused on providing excellent customer service.”
Original source: Publix
Sectors: Financials, Retail
Companies: Publix
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