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Publix Super Markets Inc. reported sales for Q3 of 2014 of $7.4 billion, a 5.1 percent increase from the year-ago period’s $7 billion. Comparable-store sales for Q3 grew 5 percent.
Net earnings came to $384.2 million, versus $359.9 million last year, a 6.8 percent increase. Earnings per share rose to 49 cents for Q3 2014, up from 46 cents per share in 2013.
For the first nine months of 2014, Publix's sales were $22.7 billion, a 5.3 percent increase from last year’s $21.6 billion. Comps for the first nine months of 2014 rose 5 percent.
Net earnings for the first nine months of this year were $1.3 billion, compared with $1.2 billion in 2013, a 4.1 percent increase. Earnings per share grew to $1.64, up from $1.58 per share last year.
As of Nov. 1, Publix's stock price dipped to $33.80 per share from $33.85 per share. The grocer's stock is not publicly traded and sold only to current Publix associates and members of its board of directors.
“I’m pleased that our Publix associates delivered strong results,” said Publix CEO Ed Crenshaw. “Unfortunately, these results were not enough to offset challenges in the stock market.”
Privately owned and operated by its 172,000 employees, Lakeland, Fla.-based Publix has 1,090 stores in Florida, Georgia, Alabama, South Carolina, Tennessee and North Carolina.