Publix reports jump in comps, revenue, profit

LAKELAND, Fla. -- Publix on Tuesday reported a boost in same store sales and an increase in profit for the third quarter.

Total sales for the third quarter of 2016 were $8 billion, a 2.4 percent increase from last year’s $7.8 billion. Same store sales for the third quarter of 2016 increased 0.9 percent.

Effective Nov. 1, 2016, Publix’s stock price decreased from $41.90 per share to $40.15 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.

“Unfortunately, our results were not enough to offset the challenges in the stock market,” said Publix CEO & President Todd Jones. “I continue to be proud of our associates for delivering a premier customer shopping experience.”

Net earnings for the third quarter of 2016 were $421.1 million, compared to $412.3 million in 2015, an increase of 2.1 percent. Earnings per share for the third quarter increased to $0.55 for 2016, up from $0.53 per share in 2015.

Publix’s sales for the first nine months of 2016 were $24.9 billion, a 3 percent increase from last year’s $24.1 billion. Comparable-store sales for the first nine months of 2016 increased 1.8 percent.

Net earnings for the first nine months of 2016 were $1.5 billion, compared to $1.4 billion in 2015, an increase of 2.6 percent. Earnings per share increased to $1.92 for the first nine months of 2016, up from $1.86 per share in 2015.

Currently Publix has 1,129 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.