US retailer Publix booked a slight drop in earnings in the third quarter but saw its stock and sales increase.

Net earnings in the three month period dropped to US$359.9m from $368.4m a year earlier, a decrease of 2.3%.

Sales, however, climbed 5.6% to $7bn. Comparable-store sales were up 4.1%.

As of 1 November, Publix’s stock price increased from $27.55 per share to $30 per share.

“I’m very pleased we had another significant increase in our stock price, resulting in a 33% increase in our stock price over the last year,” said CEO Ed Crenshaw. “Our associates continue to deliver premier customer service, the key to our success.”

In September, Publix announced plans to purchase seven stores from local peer Bi-Lo Holdings for an undisclosed sum.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData