Publix Reports Third Quarter 2010 Results and Stock Price

LAKELAND, Fla., Nov. 1, 2010 — Publix's sales for the third quarter of 2010 were $6 billion, a 3.5 percent increase from last year's $5.8 billion.Comparable-store sales for the third quarter of 2010 increased 2.7 percent.

Net earnings for the third quarter of 2010 were $283.2 million, compared to $254.9 million in 2009, an increase of 11.1 percent. Earnings per share increased to $0.36 for the third quarter of 2010, up from $0.32 per share in 2009.

Publix's sales for the first nine months of 2010 were $18.8 billion, a 3 percent increase from last year's $18.2 billion. Comparable-store sales for the first nine months of 2010 increased 1.9 percent.

Net earnings for the first nine months of 2010 were $996 million, compared to $877.3 million in 2009, an increase of 13.5 percent. Earnings per share increased to $1.27 for the first nine months of 2010, up from $1.11 per share in 2009.

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 Nov. 4 on its website at www.publix.com/stock.

Effective Nov. 1, 2010, Publix's stock price increased from $18.45 per share to $19.85 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 very pleased that our good operating performance and improvements in the stock market resulted in an increase in our stock price," said Publix CEO Ed Crenshaw. "Our associate owners continue to deliver exceptional customer service, the key to our success."