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LAKELAND, Fla. -- Privately held Publix Super Markets yesterday reported a successful second quarter that saw a jump in total sales and comps, as well as an increase in the price of its stock, which is available only to its associates and members of its board of directors.
Sales for the second quarter were approximately $4.8 billion, a 7 percent increase from last year's $4.5 billion. Comparable-store sales were up 3.8 percent. Publix noted that comparable-store sales were negatively impacted by approximately 1.3 percent of sales as a result of the early Easter holiday, which was in the first quarter of 2005 and the second quarter of 2004.
Net earnings for the second quarter were approximately $234.9 million this year, compared to $199.4 million in 2004, an increase of 17.8 percent. Earnings per share were $1.35 for the second quarter of 2005, compared to $1.11 per share for the second quarter of 2004.
Publix also commented on its solid performance for the first half of 2005. Sales were approximately $10 billion, an 8.8 percent increase from last year's $9.1 billion. Net earnings were approximately $494 million, compared to $402.8 million in 2004, an increase of 22.6 percent. Earnings per share increased to $2.85 for the first half of 2005, up from $2.25 per share in 2004.
Publix noted that the amounts are based on unaudited reports that will be filed later this week with the U.S. Securities and Exchange Commission.
Based on the most recent appraisal, Publix stock increased $6.25 to $72.75 per share from $66.50 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
Publix is owned and operated by its 129,500 employees, with 2004 sales of $18.6 billion. Currently Publix has 858 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.