Publix’ sales down in first quarter
Lakeland, Fla.-based Publix CEO and President Todd Jones said “the timing of Easter,” which was April 16 and in the retailer’s second quarter, had a negative impact on the company’s sales for the first quarter of 2017, which were $8.69 billion, a 0.4 percent decrease from last year’s $8.72 billion. Last year, Easter was in Publix’s first quarter.
Publix estimates the timing of Easter affected sales by approximately 1.2 percent.
Net earnings for the first quarter of 2017 were $555.3 million, compared to $581.9 million in 2016, a decrease of 4.6 percent. Earnings per share for the first quarter decreased to $0.73 for 2017, down from $0.75 per share in 2016.