Sponsored By

Publix first-quarter comp sales rise more than 14%

CEO Todd Jones: ‘Never before have we experienced a more challenging time’

Russell Redman

May 1, 2020

2 Min Read
Publix_supermarket-exterior.png
The impact of the coronavirus pandemic lifted first-quarter sales at Publix by about $1 billion, or 10.3%.Publix Super Markets

Publix Super Markets posted double-digit gains in net and comparable-store sales for its fiscal 2020 first quarter, citing a late-quarter spurt in business from the COVID-19 outbreak.

Lakeland, Fla.-based Publix said Friday that sales for the quarter ended March 28, 2020 totaled $11.2 billion, up 16.1% from $9.7 billion a year earlier. Same-store sales for the period jumped 14.4% year over year.

The impact of the coronavirus pandemic — which triggered high consumer demand as millions of Americans stocked up on groceries and other supplies — lifted first-quarter sales by about $1 billion, or 10.3%, Publix estimated.

“Never before have we experienced a more challenging time,” Publix CEO Todd Jones said in a statement. “Our associates’ efforts to serve our customers and communities have been nothing short of extraordinary. I want to thank our associates and couldn’t be more proud to serve alongside them.”

Todd_Jones-Publix_CEO.png

“Our associates’ efforts to serve our customers and communities have been nothing short of extraordinary,” said Publix CEO Todd Jones.

At the bottom line, net income for the first quarter came in at $667.3 million, or 94 cents per share, compared with $981 million, or $1.37 per share, a year ago. Publix noted that the decrease reflects net unrealized losses and gains on equity securities.

Excluding the effect of net unrealized losses and gains, net earnings for the 2020 quarter were $956.2 million, or $1.35 per share, versus $741.7 million, or $1.04 per share, in the prior-year period, according to Publix.

Related:Publix purchases produce, milk from farmers impacted by pandemic

As of May 1, Publix’s stock price rose to $50.10 per share from $48.90 on March 1. An employee-owned company, the grocer doesn’t publicly trade its shares, which are available for sale only to current Publix associates and board members.

Publix closed out its 2019 fiscal year with total sales of $38.1 billion, up 5.6% from 2018.  Same-store sales for the fourth quarter and full year rose 3.6%.

Overall, the company operates 1,242 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.

For our most up-to-date coverage, visit the coronavirus homepage.

Read more about:

Publix Super Markets

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

Stay up-to-date on the latest food retail news and trends
Subscribe to free eNewsletters from Supermarket News

You May Also Like