Last updated on November 2nd, 2016 at 01:42 pm
Publix reports that sales for the third quarter of 2016 are $8 billion, a 2.4 percent increase from last year’s $7.8 billion. Comparable-store sales for the third quarter of 2016 saw an increase of 0.9 percent.
Net earnings for the third quarter total $421.1 million, compared to $412.3 million in 2015, an increase of 2.1 percent. Earnings per share for the third quarter increase to $0.55 for 2016, up from $0.53 per share in 2015.
Publix’s sales for the first nine months are $24.9 billion, a 3 percent increase from last year’s $24.1 billion. Comparable-store sales for the first nine months of 2016 increase to 1.8 percent.
Net earnings for the first nine months of 2016 are $1.5 billion, compared to $1.4 billion in 2015, an increase of 2.6 percent. Earnings per share increase to $1.92 for the first nine months of 2016, up from $1.86 per share in 2015.
Effective Nov. 1, Publix’s stock price decreases from $41.90 per share to $40.15 per share. Publix stock is not publicly traded; it is made available for sale only to current Publix associates and members of its board of directors.
“Unfortunately, our results were not enough to offset the challenges in the stock market,” said Publix CEO and President Todd Jones. “I continue to be proud of our associates for delivering a premier customer shopping experience.”
Publix fast facts
Lakeland, Florida-based Publix Super Markets is the largest employee-owned grocery chain in the U.S. and employs more than 186,000 people. It is one of the 10 largest-volume supermarket chains in the country with retail sales reaching $32.4 billion in 2015. The company’s more than 1,000 stores are located in Florida, Alabama, Georgia, North and South Carolina and Tennessee—with plans to enter Virginia next. The grocer also operates eight distribution centers and 10 manufacturing facilities across the Southeast.
