Publix's Q2 earnings fell 0.2% from a year ago to US$382.4M as sales rose 3.2% to US$6.8B, comparable-store sales grew 1.9%; CEO says economy is continuing to affect results, stock price
August 2, 2012
– Publix’s sales for the second quarter of 2012 were $6.8 billion, a 3.2 percent increase from last year’s $6.6 billion. Comparable-store sales for the second quarter of 2012 increased 1.9 percent.
Net earnings for the second quarter of 2012 were $381.6 million, compared to $382.4 million in 2011, a decrease of 0.2 percent. Earnings per share for the second quarter increased to $0.49 for 2012, up from $0.48 per share in 2011.
Publix’s sales for the first half of 2012 were $13.9 billion, a 3.7 percent increase from last year’s $13.4 billion. Comparable-store sales for the first half of 2012 increased 2.6 percent.
Net earnings for the first half of 2012 were $791 million, compared to $780.5 million in 2011, an increase of 1.3 percent. Earnings per share increased to $1.01 for the first half of 2012, up from $0.99 per share in 2011.
These amounts are based on unaudited reports that will be filed next week with the U.S. Securities and Exchange Commission (SEC). The company’s quarterly report to the SEC, Form 10-Q, will be available Aug. 9 on its website at www.publix.com/stock.
Effective Aug. 1, 2012, Publix’s stock price decreased from $22.70 per share to $22.00 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.
“The economy continues to affect our results and stock price,” said Publix CEO Ed Crenshaw. “During these difficult times, our associates remain focused on providing excellent customer service.”
Publix is privately owned and operated by its 152,500 employees, with 2011 sales of $27 billion. Currently Publix has 1,055 stores in Florida, Georgia, South Carolina, Alabama and Tennessee. The company has been named one of FORTUNE’s “100 Best Companies to Work For in America” for 15 consecutive years. In addition, Publix’s dedication to superior quality and customer service is recognized as tops in the grocery business, most recently by an American Customer Satisfaction Index survey. For more information, visit the company’s website, www.publix.com.
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