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Publix sales edge up in first quarter

Southeastern grocer cycles prior-year upsurge triggered by pandemic

Russell Redman

May 3, 2021

3 Min Read
Publix_store-Hoover_AL_copy.jpg
Publix estimated that COVID-19 impacted its sales by $900 million, or 7.8%, in the 2021 first quarter.Publix Super Markets

In what’s shaping up to be an industrywide trend, Publix Super Markets posted smaller sales gains in its fiscal 2021 first quarter versus a year ago as it cycled the beginning of a growth spurt driven by COVID-19 panic-buying.

Publix said Monday that, for the quarter ended March 27, sales totaled $11.7 billion, up 3.9% from $11.2 billion a year earlier, when the Lakeland, Fla.-based grocer reported a 16.1% increase. Same-store sales rose 2.4% year over year, compared with a 14.4% gain in the fiscal 2020 quarter.

The World Health Organization (WHO) declared COVID-19 a global pandemic on March 11, and the United States declared coronavirus a national emergency on March 13. However, U.S. shoppers had begun raiding stores in the latter part of February to stockpile groceries and other essential supplies such as sanitizers, cleaning products, face masks and disposable gloves as reports of virus cases began to mount.

Publix estimated that COVID-19 impacted sales by $900 million, or 7.8% in the 2021 first quarter and by $1 billion, or 10.3%, in the 2020 first quarter. Excluding the pandemic’s impact in both period, sales would have climbed 5.5% to $10.8 billion from $10.2 billion, the company said.

When reporting fiscal 2020 results in early March, Publix reckoned that the coronavirus crisis lifted full-year sales by 12.1%, or about $4.6 billion. Sales for 2020 came in at $44.9 billion, up 17.7% year over year.

Related:Publix now offers COVID-19 vaccinations across its market area

“While our country is taking steps to return to normal, our associates continue to provide the premier service that brings comfort to our customers,” Publix CEO Todd Jones said in a statement on Monday. “I want to thank our associates for their extraordinary efforts since the beginning of the pandemic.”

At the bottom line, 2021 first-quarter net income rose to $1.5 billion, or $2.16 per share, from $667.3 million, or 94 cents per share, a year ago. Publix said the results reflect net unrealized gains and losses on equity securities in 2021 and 2020, respectively. On an adjusted basis, net earnings were $909.8 million, or $1.32 per share, versus $956.2 million, or $1.35 per share, in the prior-year period.

Publix’s stock price advanced to $61.30 per share on May 1 from $60.20 on March 1. An employee-owned company, the supermarket chain doesn’t publicly trade its shares, which are available for sale only to current Publix associates and board members.

Publix finished the 2021 first quarter with 1,269 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia, up from 1,243 a year earlier.

Related:Publix promotes Adrian Bennett to VP of Jacksonville division

In other news, Publix today began accepting walk-ins for COVID-19 vaccinations, including the Moderna (two shots) and Johnson & Johnson (one shot) vaccines, for people ages 18 and older at its pharmacies in Alabama, North Carolina and Tennessee.

Appointments for COVID inoculations are still required in Florida, Georgia, South Carolina and Virginia, Publix said. On April 16, the retailer permanently opened its online reservation system for coronavirus vaccines, enabling customers to book appointments for shots without having to wait for a specific day. Publix passed the 1 million mark in COVID doses administered in mid-March and began offering shots across its market area on April 12.

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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

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