Florida-based retailer Publix has announced in a press statement a 0.6 per cent increase in its third-quarter sales to US$5.8bn, up from last year’s US$5.bn.
Comparable-store sales for the third quarter of 2009 decreased 4.7 per cent, while net earnings for the third quarter of 2009 were US$254.9m, compared with US$201.8m in 2008, an increase of 26.3 per cent. Earnings per share increased to US$0.32 for the third quarter of 2009, up from US$0.25 per share in 2008.
Publix’s sales for the first nine months of 2009 were US$18.2bn, a 1.8 per cent increase from last year’s US$17.9bn. Comparable-store sales for the first nine months of 2009 decreased 3.4 per cent.
Net earnings for the first nine months of 2009 were US $877.3m, compared with US$840.7m in 2008, an increase of 4.3 per cent. Earnings per share increased to US$1.11 for the first nine months of 2009, up from US$1.02 per share in 2008.
Effective 1 November 2009, Publix’s stock price increased from US$16.05 per share to US$16.30 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.
“We are pleased with the improvement in our net earnings compared to the third quarter of 2008,” said Publix CEO Ed Crenshaw. “But we understand our net earnings are essentially the same as our results for the third quarters of 2006 and 2007. Even in these difficult times, our associates continue to deliver the excellent service our customers expect.”
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