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Regional independent Publix scored a hat trick for the second quarter of 2009, with sales, profits, and its share price (Publix stock is privately held) all increasing over past year. The only decrease it saw was in comparable-store sales, which slid 2.6 percent from last year.
“Although the economy continues to be weak, [we saw] improvement in our operating results and stock price,” said Publix CEO Ed Crenshaw. “I congratulate our associates for continuing to deliver premier customer service.”
Sales were $6 billion, a 2.7 percent increase from last year’s $5.9 billion. Comps for the second quarter of 2009 decreased 2.6 percent. Net earnings for the second quarter of 2009 were $300.8 million, up 1.7 percent from last year’s $295.8 million. Earnings per share increased to 38 cents for the second quarter of 2009, up from 36 cents last year.
Publix’s sales for the first half of 2009 were $12.4 billion, a 2.4 percent increase from last year’s $12.1 billion, and comps decreased 2.7 percent for the period. Net earnings for the first half were $622.3 million, a decrease of 2.6 percent from last year’s $638.9 million. Earnings per share increased to 79 cents for the first half, up from 77 cents in 2008.
Effective Aug. 1, 2009, Publix’s stock price increased from $15.55 per share to $16.05 per share. The grocer’s stock isn’t publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
Lakeland, Fla.-based Publix operates 1,008 stores in Florida, Georgia, South Carolina, Alabama and Tennessee, and employs 139,000 associates. Its 2008 sales were $23.9 billion.