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Despite hurricanes, Publix sees sales increase

The Florida-based grocer’s comparable-store sales rose 3.4% during the three months ended Sept. 28

Heather Lalley, Managing editor

November 1, 2024

2 Min Read
The exterior of a Publix
The retailer estimates 0.6% of its sales growth was due to the impact of Hurricane Helene, which made landfall on Sept. 26.Getty Images

Despite Hurricanes Helene and Milton hitting its home state of Florida, sales at Publix rose nearly 5% during its most recent quarter, the grocer reported Friday.

For the three-month period ended Sept. 28, Lakeland, Fla.-based Publix reported sales of $14.6 billion, up from $14 billion during the same period a year ago. Comparable-store sales rose 3.4% during the period.

The retailer estimates 0.6% of its sales growth was due to the impact of Hurricane Helene, which made landfall on Sept. 26. At least 227 deaths have been attributed to the Category 4 hurricane, the deadliest to hit the mainland U.S. since Hurricane Katrina nearly two decades ago.

“During the last several weeks, many of our associates and customers have faced difficult times with Hurricane Helene and Milton,” Publix CEO Kevin Murphy said in a statement. “I’m so proud of our associates for the comfort they bring to our customers and their fellow associates.”

On the earnings news, Publix raised its stock price from $16.46 per share to $18.05 per share. Publix is not publicly traded and its stock is only available to current employees and its board of directors.

Among the grocer’s other earnings highlights:

  • Net earnings for the three-month period were $1.1 billion, up 31.7% from $833 million a year ago

  • Earnings per share during the period increased to 33 cents per share, up from 25 cents per share in 2023

  • For the nine months ended Sept. 28, Publix’s sales rose 4.3% from 2023, to $44.2 billion

  • Same-store sales during the nine-month period increased 2.5%

  • Net earnings in the nine-month period increased 8.3%, to $3.4 billion, from the year-ago period

  • Earnings per share for the nine-month period increased to $1.04 per share, up from 95 cents per share in 2023

Related:Foxtrot facing $3.8M in back wage, benefits payments

Publix is the largest employee-owned company in the United States, with more than 255,000 employees across 1,383 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky. 

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Publix Super Markets

About the Author

Heather Lalley

Managing editor

Heather Lalley is the managing editor of Restaurant Business, Foodservice Director and CSP Daily news. She previously served as editor in chief of Winsight Grocery Business.

Before joining Winsight and Informa, Heather spent nearly a decade as a reporter for the daily newspaper in Spokane, Washington. She is the author of "The Chicago Homegrown Cookbook." She holds a journalism degree from Northwestern University and is a graduate of the two-year baking and pastry program at Washburne Culinary Institute in Chicago.

She is the mother of two and rarely passes up a chance to eat tater tots.

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