Employee-owned US grocer Publix has posted a rise in sales and earnings for the third quarter of 2011.
The retailer’s sales for the three months to the end of September were US$6.4bn, a 5.5% increase on the same three months last year. Comparable-store sales increased 4.3%.
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Net earnings for the third quarter were $311.9m, compared to $283.2m in 2010.
“I’m pleased that our Publix associates delivered strong operating results,” said Publix CEO Ed Crenshaw.
Publix’s sales for the first nine months of 2011 rose 5.2% to $19.7bn, while comparable-store sales increased 3.7% and net earnings rose 9.7% to $1.1bn.
The retailer is privately owned and operated by its 150,000 employees and has 1,042 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.
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