Publix Sales, Comps Up in Q2

In keeping with its continued growth trend, Publix has posted $7.5 billion in sales for its Q2 2014, a 6.6 percent increase over the $7 billion in the year-ago period. Comparable-store sales were up 6.3 percent.

The Lakeland, Fla.-based grocer said its performance was postively impacted 1.3 percent due to the Easter holiday falling within Q2, compared to Q1 in 2013.

Net earnings for Q2 were $404.1 million, compared to $400.9 million in 2013, an increase of 0.8 percent; earning per share were $0.52 for 2014, up from $0.51 in 2013.

Effective today, Publix stock increased from $32.50 per share to $33.85 per share, which represents the company's eight consecutive quarter of stock growth. Publx CEO Ed Crenshaw noted that the company's "associate owners deserve the credit for continuing to make us a leader in our industry.”

First Half Performance

Publix sales for the first half of 2014 were $15.3 billion, a 5.3 percent increase from last year’s $14.5 billion. Comparable-store sales for the first half increased 5.1 percent.

Net earnings for the first half were $897.8 million, compared to $872.1 million in 2013, an increase of 2.9 percent. Earnings per share increased to $1.15, up from $1.12 per share in the year-ago.

Publix operates 1,077 stores in Florida, Georgia, Alabama, South Carolina, Tennessee and North Carolina.