Q2 sales, EPS rise for Publix
LAKELAND, Fla. One of the nation's largest grocery chains reported its second-quarter earnings on Monday.
Publix said its second-quarter earnings totaled $6.2 billion, a 3.4% increase from last year’s $6 billion, as comparable-store sales increased 2.4%. Net earnings for the quarter 2010 were $348.4 million, compared with $300.8 million in 2009, an increase of 15.8%. Earnings per share increased to 44 cents for second quarter 2010, up from 38 cents per share in 2009.
Although Publix did not report on its pharmacy sales, since Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors, the store does operate upwards of 700 pharmacies in its stores.
“I’m proud that our Publix associates delivered strong operating results,” said Publix CEO Ed Crenshaw. “Unfortunately, these results were not enough to offset the continuing challenges in the stock market.”