Publix Q2 Sales Grow
First quarter sales at Publix were up more than 3% as the negative impact of the Easter holiday shift was offset by comparable store sales growth.
For the three months ended June 29, total sales were $14.5 billion, up 3.1% from the comparable quarter the previous year. The shift of Easter to the first quarter had a 1.1% negative impact on sales. Comparable store sales for the quarter were up 1.1%.
Net earnings for the quarter were $972 million, compared to $1.1 billion in 2023, a decrease of 11.4%. Earnings per share decreased to $0.29 per share, down from $0.33 in the comparable quarter the previous year. Excluding the impact of net unrealized gains on equity securities in 2024 and 2023, net earnings in the quarter would have been $940 million, compared to $1 billion in 2023, a decrease of 9.8%.
Publix’s sales for the six months ended June 29 were $29.6 billion, a 4.1% increase from $28.4 billion in 2023. Comparable store sales for the six months increased 2%.
Net earnings through the first half of fiscal 2024 was $2.3 billion. Earnings per share increased to $0.71 per share, up from $0.70 per share during the first half of 2023.
Effective Aug. 1, 2024, the grocer’s stock price increased from $16.25 per share to $16.46 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.
