Publix Earnings Down in 3Q

Lakeland, Fla., Publix reported that net earnings for the third quarter were $249 million this year, down 1.5% compared to $252.9 million the year before. Sales for the third quarter were $5.6 billion, up 6.5% from $5.2 billion last year. Meanwhile, same-store sales for the quarter increased 4.5%.

Sales for the first nine months of 2007 were $17.1 billion, a 6.4% increase from last year’s $16.1 billion. Net earnings for the first nine months of 2007 were $873 million, compared to $805.3 million in 2006, an increase of 8.4%.