Publix sees boost in Q1

LAKELAND, Fla. — First-quarter sales increased 4.2% to $7.1 billion for Publix, the company reported Tuesday.

Comparable-store sales experienced a 3.3% boost, while net earnings for the retailer totaled $409.4 million, compared with $398.2 million in the year-ago period, and net earnings per share rose 1 cent to 52 cents for the quarter.

The company also reported that effective May 1, Publix's stock price increased from $22.40 per share to $22.70 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 we had another increase in our stock price during a time of economic challenges," Publix CEO Ed Crenshaw said. "Our associates deserve the credit for continuing to make us a leader in our industry."