Publix posts Q3 sales, earnings growth

LAKELAND, Fla. Publix reported that sales for third quarter 2009 were $5.83 billion, a 0.6% increase from last year’s $5.8 billion. Comparable-store sales for third quarter 2009 decreased 4.7%.

Net earnings for third quarter 2009 were $254.9 million, compared with $201.8 million in 2008, an increase of 26.3%. Earnings per share increased to 32 cents for third quarter 2009, up from 25 cents per share in 2008.

Publix’s sales for the first nine months of 2009 were $18.2 billion, a 1.8% increase from last year’s $17.9 billion. Comparable-store sales for the first nine months of 2009 decreased 3.4%.

Net earnings for the first nine months of 2009 were $877.3 million, compared to $840.7 million in 2008, an increase of 4.3%. Earnings per share increased to $1.11 for the first nine months of 2009, up from $1.02 per share in 2008.

“We are pleased with the improvement in our net earnings compared to the third quarter of 2008. But we understand our net earnings are essentially the same as our results for the third quarters of 2006 and 2007,” said Publix CEO Ed Crenshaw. “Even in these difficult times, our associates continue to deliver the excellent service our customers expect.”