LAKELAND, Fla. — Publix Super Markets here said profits were down slightly in the second quarter despite a 3.2% gain in revenues, including a 1.9% increase in comparable-store sales.
Net income of $382.4 million was off 0.2% from year-ago levels for the quarter. Total sales were $6.8 billion.
Through the first half, net income was up 1.3%, to $791 million, on a 3.7% increase in sales, to $13.9 billion. Comps for the first half of the year were up 2.6%. The company’s stock, which is not publicly traded and is only available to employees and board members, was valued at $22 per share, down from $22.70.
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“The economy continues to affect our results and stock price,” said Ed Crenshaw, chief executive officer, Publix. “During these difficult times, our associates remain focused on providing excellent customer service.”
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