Publix Earnings, Comps Tumble in Q1

A tough economy contributed to declines in comparable-store sales and earning during the fiscal first quarter for Publix Super Markets, the retailer said Friday.

LAKELAND, Fla. — A tough economy contributed to declines in comparable-store sales and earning during the fiscal first quarter for Publix Super Markets, the retailer said Friday.

Overall quarterly sales of $6.4 billion increased 2.2% form the same period last year but comps decreased 2.8%. Net earnings of $321.5 million were down 6.4%.

Publix stock, which is available only to employees and directors, was decreased to $15.55 per share from $16, according to an appraiser.

Register to view the full article

Already a member? .