Publix Posts Healthy Sales, Profit Gains in Q3
LAKELAND, Fla. - Publix Super Markets said yesterday its third-quarter sales jumped 7.2 percent to $5.2 billion, while comparable-store sales increased 5.1 percent.
Net earnings for the third quarter were $252.9 million, compared to $200.3 million in 2005, an increase of 26.3 percent. Earnings per share were $0.30 for the third quarter of 2006, compared to $0.23 per share for the third quarter of 2005, adjusted for the effect of the 5-for-1 stock split that occurred July 1, 2006.
"Our financial performance continues to be excellent, resulting in another significant increase in our stock price," Publix c.e.o. Charlie Jenkins Jr. said in a statement. "I congratulate our associates for delivering the premier customer service that made this happen."
Based on the most recent appraisal, Publix's stock price increased $1.35 from $18.25 per share to $19.60 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 also reported sales for the first nine months of 2006, which were $16.1 billion, an 8.4 percent increase from last year's $14.9 billion. Net earnings for the first nine months of 2006 were $805.3 million, compared to $694.3 million in 2005, an increase of 16 percent.
Publix is owned and operated by its 139,000 employees, with 885 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.
Net earnings for the third quarter were $252.9 million, compared to $200.3 million in 2005, an increase of 26.3 percent. Earnings per share were $0.30 for the third quarter of 2006, compared to $0.23 per share for the third quarter of 2005, adjusted for the effect of the 5-for-1 stock split that occurred July 1, 2006.
"Our financial performance continues to be excellent, resulting in another significant increase in our stock price," Publix c.e.o. Charlie Jenkins Jr. said in a statement. "I congratulate our associates for delivering the premier customer service that made this happen."
Based on the most recent appraisal, Publix's stock price increased $1.35 from $18.25 per share to $19.60 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 also reported sales for the first nine months of 2006, which were $16.1 billion, an 8.4 percent increase from last year's $14.9 billion. Net earnings for the first nine months of 2006 were $805.3 million, compared to $694.3 million in 2005, an increase of 16 percent.
Publix is owned and operated by its 139,000 employees, with 885 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.