Publix has continued its sales momentum in the second quarter even amid a challenging comparison with its year-ago pandemic-fuelled increases.
The grocer’s sales rose 3.9 per cent to $11.8bn for the three months ended 26 June, from $11.4bn in the year-ago period. Comparable store sales increased 2.3 per cent.
Net earnings fell 26.2 per cent to $1bn, compared to $1.4bn last year amid stockpiling by consumers during the pandemic. Earnings per share decreased to $1.46 per share, down from $1.94 per share in 2020.
Adjusted net earnings, excluding net unrealised gains on equity securities, were $920.3M, or $1.33 per share, versus $978.3M, or $1.39 per share, a year earlier.
“We encourage all to do their part to slow the spread of Covid-19. Customers and associates should remain physically distanced from others while inside any Publix store,” the retailer stated. “Throughout the pandemic, our associates have continued to provide legendary customer service,” said Publix CEO Todd Jones. “I’m so thankful to serve alongside them in making shopping at Publix a pleasure.”
Publix operates 1,273 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.
