LAKELAND, FL – In the second quarter of 2014, Publix saw profits and sales increase.
The company earned $404.1 million during the quarter, which was up 0.8% from last year, according to the company’s financial report. Sales saw an increase of 6.6% on an annual basis to $7.5 billion.
Publix also saw same-store sales grow 6.3%. Same-store sales are an important indicator of a retailer’s health since they measure sales activity at locations open at least a year.
The St. Augustine Record reports that Publix’s second quarter earnings per share came to 52 cents, which is up from 51 cents last year. Publix stock also increased to $33.85 per share, up $1.35, or 4.2%, from the last pricing in May.
“This is our eighth consecutive quarter with an increase in our stock price,” said Publix CEO Ed Crenshaw in a statement. “Our associate owners deserve the credit for continuing to make us a leader in our industry.
According to the Record, Publix is also continuing to expand. It has opened five stores in North Carolina and plans to open nine additional locations by the end of next year.
