US supermarket group Publix has said that sales for the second quarter of this year have increased by 11%, driving a 12.4% gain in earnings.
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Sales rose from $4.8bn posted in the second quarter of last year to US$5.3bn in the second quarter of this year. Same store-sales increased by 8.5%. Sales in this quarter benefited from the positive impact of the late Easter, which generated approximately $62m, or 1.3%, in additional sales.
Net earnings climbed to $264m this year, compared to $234.9m in 2005. Earnings per share were $0.31 for the quarter, up from $0.21 last year.
These positive results drove Publix’s stock price up from $17.65 per share to $18.25 per share. Publix stock is not publicly traded and is available only to current Publix associates and members of its board of directors.
“For the last three years, our stock performance has been outstanding. Our stock price has more than doubled during that time,” Publix CEO Charlie Jenkins Jr. said. “I want to congratulate our associates – the owners of Publix – on this achievement.”
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