Publix reports 3Q sales growth

LAKELAND, Fla. Publix today reported sales of $5.6 billion for the third quarter of 2007, a 6.5% increase from last year’s $5.2 billion. Comparable-store sales for the third quarter of 2007 increased 4.5%.

Net earnings for the third quarter were $249 million this year, compared to $252.9 million in 2006, a decrease of 1.5%. Earnings per share remained unchanged at 30 cents per share.

Publix’s 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%. Earnings per share increased to $1.04 for the first nine months of 2007, up from $0.95 per share in 2006.

Commenting on Publix's results, ceo Charlie Jenkins Jr. said, “Our operating performance was solid in a difficult economic environment."