Publix reports sales gains in Q1

First quarter sales at Publix were up as the grocer reported gains in comparable store sales covering the year’s first three months.

For the quarter ended March 30, total sales were $15.1 billion, an increase from the same quarter the previous year. Comparable store sales in the quarter were up 2.8%. The company estimates sales increased by 1% due to the effect of the Easter holiday being in the first quarter of 2024.

Net earnings for the three months were $1.4 billion, compared to $1.2 billion in 2023, an increase of 10.1%. Earnings per share in the quarter increased to $0.41 per share, up from $0.37 per share in 2023. 

[Retail news: Retail sales steadily climbing]

Effective May 1, 2024, Publix’s stock price increased from $15.20 per share to $16.25 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.

Publix, the largest employee-owned company in the U.S. with more than 255,000 associates, currently operates 1,376 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky. 

This story originally appeared on Store Brands.