LAKELAND, Fla.--(BUSINESS WIRE)--Publix’s sales for the first quarter of 2016 were $8.7 billion, a 4.5 percent increase from last year’s $8.3 billion. Comparable-store sales for the first quarter of 2016 increased 3.3 percent. The company estimates sales increased 1.2 percent due to the effect of the Easter holiday being in the first quarter of 2016. In 2015, the effect of the Easter holiday was in the second quarter.
Net earnings for the first quarter of 2016 were $581.9 million, compared to $548.9 million in 2015, an increase of 6 percent. Earnings per share for the first quarter increased to $0.75 for 2016, up from $0.71 per share in 2015.
These amounts are based on unaudited reports that will be filed today with the U.S. Securities and Exchange Commission and made available on the company’s website at www.publix.com/stock.
Effective May 1, 2016, Publix’s stock price decreased from $45.20 per share to $43.95 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“I’m pleased that our Publix associates delivered strong results,” said Publix CEO & President Todd Jones. “Unfortunately, these results were not enough to offset the challenges in the stock market.”
Publix is privately owned and operated by its 179,500 employees, with 2015 sales of $32.4 billion. Currently Publix has 1,112 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina. The company has been named one of Fortune’s “100 Best Companies to Work For in America” for 19 consecutive years. In addition, Publix’s dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company’s website, corporate.publix.com.