Publix Reports First Quarter 2011 Results and Stock Price
LAKELAND, Fla., May 2, 2011 — Publix's sales for the first quarter of 2011 were $6.8 billion, a 4.4 percent increase from last year's $6.5 billion. Comparable-store sales for the first quarter of 2011 increased 2.8 percent.
Net earnings for the first quarter of 2011 were $398.2 million, compared to $364.4 million in 2010, an increase of 9.3 percent. Earnings per share for the first quarter increased to $0.51 for 2011, up from $0.47 per share in 2010.
These amounts are based on unaudited reports that will be filed later this week with the U.S. Securities and Exchange Commission (SEC). The company's quarterly report to the SEC, Form 10-Q, will be available May 5 on its website at www.publix.com/stock.
Effective May 1, 2011, Publix's stock price increased from $20.90 per share to $21.65 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.
"Although the economy continues to be weak, I'm pleased our strong operating performance resulted in another increase in our stock price," said Publix CEO Ed Crenshaw. "Our Publix associates continue to make us a leader in our industry."