Publix sees slight increase in sales during second quarter

Both revenue and same-store sales rose for the quarter compared with a year ago.
Dan Ochwat
Executive Editor
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Publix reported positive results in both revenue and same-store sales for the second quarter ending June 26, despite numbers not being as strong as a year ago when pandemic-driven sales were at all-time highs in grocery.

For identical-store sales, Lakeland, Fla.-based Publix reported an 2.3% increase in sales. In revenue, the retailer saw a 3.9% increase from the $11.4 billion it generated a year ago.

“Throughout the pandemic, our associates have continued to provide legendary customer service,” said Publix CEO Todd Jones. “I’m so thankful to serve alongside them in making shopping at Publix a pleasure.”

Net earnings for Q2 reached $1 billion, compared with $1.4 billion in 2020, a decrease of 26.2%. Earnings per share decreased to $1.46 per share, down from $1.94 per share in 2020. Excluding the impact of net unrealized gains on equity securities in 2021 and 2020, net earnings would have been $920.3 million, compared to $978.3 million in 2020, a decrease of 5.9%. Earnings per share would have been $1.33 per share, compared with $1.39 per share in 2020.

The numbers from Publix come on the heels of a mask mandate that the grocer issued for its employees across its more than 1,200 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia. 

The company said it was in response to the rise of COVID cases happening in the United States, adding that “effective Aug. 2, Publix is requiring associates, regardless of their vaccination status, to wear face coverings over their noses and mouths while inside any Publix location. We encourage all to do their part to slow the spread of COVID-19. Customers and associates should remain physically distanced from others while inside any Publix store.”