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Publix tallies 6.3% comp-sales growth in third quarter

Southeastern grocer continues adding to 2020 pandemic-driven gains

Russell Redman

November 1, 2021

2 Min Read
Publix store banner-Madison AL-JRW Realty.jpg
Publix's third-quarter net sales growth of 7.8% built on an 18.3% increase in the 2020 quarter.JRW Realty

Last year’s pandemic sales surge didn’t prevent Publix Super Markets from generating gains in its fiscal 2021 third quarter.

For the quarter ended Sept. 25, net sales climbed 7.8% to $11.9 billion from $11.1 billion in the 2020 third quarter, when sales jumped 18.3%, Publix said Monday. The Lakeland, Fla.-based supermarket chain also saw sequential growth, as 2021 second-quarter sales were up 3.9%.

Publix built on earlier comparable-store sales increases as well. Year over year, 2021 third-quarter comp sales rose 6.3%, on top of 16.5% growth a year ago and exceeding the 2.3% gain in the 2021 second quarter.

To date, the grocer’s overall sales are up 5.2% to $35.4 billion from $33.7 billion in the prior-year period. Comp sales for the nine months show a 3.6% uptick. Those results also reflect increases of 3.9% in net sales and 2.4% in same-store sales in the 2021 first quarter.

Publix’s sales for the nine months ended Sept. 25, 2021 were $35.4 billion, a 5.2% increase from $33.7 billion in 2020. Comparable store sales for the nine months ended Sept. 25, 2021 increased 3.6%.

“As the effects of the pandemic and supply chain challenges persist, the efforts of our associates continue to be extraordinary,” Publix CEO Todd Jones said in a statement. “I couldn’t be more proud of their commitment to serving our customers and communities.”

Related:Publix rolls out drug disposal receptacles to over 170 pharmacies

At the bottom line, third-quarter 2021 net income came in at $856.9 million, or $1.24 per share, down from $917.6 million, or $1.31 per share, a year ago. Excluding the impact of net unrealized gains on equity securities, net earnings would have totaled $802.5 million, or $1.16 per share, versus $836.2 million, or $1.20 per share, a year earlier, according to Publix.

Net income remains on the upside for the year to date, however. Publix reported nine-month net earnings of $3.4 billion, or $4.87 per share, compared with $3 billion, or $4.20 per share, in the 2020 period. Backing out net unrealized gains on equity securities, net would have been $2.6 billion, or $3.81 per share, versus $2.8 billion or $3.94 per share, in the prior-year period, the company said.

Effective Nov. 1, 2021, Publix’s stock price increased from $63.10 per share to $66.40 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

Publix said its stock price rose to $66.40 per share as of Nov. 1 from $63.10 per share on Aug. 1, just before the retailer reported second-quarter results. An employee-owned company, Publix doesn’t publicly trade its shares, which are available for sale only to associates and board members.

Related:Publix promotes three longtime executives

Overall, Publix operates 1,284 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia, up from 1,253 stores a year ago. The company plans to enter its eighth state, Kentucky, with a Louisville store slated to open in 2023.

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

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