Publix Ups the Ante in Kentucky
Although it only recently broke ground on its first store in Kentucky, Publix Super Markets has announced a planned fourth location in the Bluegrass State. This will mark the third store in the Louisville area, and it is slated to open in the second quarter of 2024.
The 48,387-square-foot store will include a Publix Pharmacy and an adjacent Publix Liquors with beer, wine and spirits. It will be located at the northwest corner of Flat Rock Road and Shelbyville Road.
“Publix provides premier customer service, along with a deep commitment to the communities in which we serve,” said Publix Director of Communications Maria Brous. “We are excited for Kentuckians to begin experiencing the Publix difference as we continue to expand our footprint in the Bluegrass State.”
In June, the Lakeland, Fla.-based retailer officially broke ground on its first location in Kentucky, which marked the grocer’s entry into its eighth state of operation. A second Louisville Publix location is expected to open in the first quarter of 2024, and the retailer also revealed a third Kentucky location slated for late 2024, this one in the city of Lexington.
Publix also expanded its presence in the vacation town of Myrtle Beach, S.C., last month, with two store openings in the area. Also in November, new locations opened in Ocala, Fla., St. Augustine, Fla., Auburn, Ala., Inlet Beach, Fla., Moncks Corner, S.C., and Mobile, Ala., among other communities.
The food retailer shared in its third-quarter earnings report that it was weathering marketplace cross-currents in addition to recently navigating its operations through a destructive hurricane. Its third-quarter sales reached $13 billion, up 9.2% from the same period in 2021. Comp sales rose 7.6% during the summer and into early fall. Total sales for the first nine months of 2022 closed in on $40 billion for a 10.7% year-over-year gain.
Meanwhile, Publix’s net earnings for the third quarter dropped 54%, down from $856.9 million in 2021 to $394.1 million. The grocer reported that net earnings would have been $808.9 million for the quarter if the impact of net unrealized losses on equity securities this year and net unrealized gains in equity securities in 2021 were excluded.
Employee-owned and -operated Publix has close to 1,300 supermarkets in Florida, Georgia, Alabama, South Carolina, Tennessee, North Carolina and Virginia. Publix is No. 12 on The PG 100, Progressive Grocer’s 2022 list of the top food and consumables retailers in North America.
