The chain’s store sales improved 2.6 % for the first 9 months and 2.5% for the third quarter. The sales of the chain for the first 9 months of the year were $20.5 billion. This represents an increase of 3.9% from 2011, which stood at $19.7 billion. The net earnings for a similar period of 9 months stood at $1.2 billion, an improvement of 6.1% compared to $1.1 billion last year. The earnings for the third quarter alone were at $368.4 million.
For the third quarter, the Earnings Per Share (EPS) for this year is at 47 cents, which is an increase from 40 cents in the year 2011. The EPS also rose in the nine-month period to $1.48, which is an increase from $1.39 last year. Publix also said the chain’s stock value increased to $22.50 per share from a previous $22 on Thursday.
Publix Super Markets Inc. is based in Lakeland, Florida. Privately owned Publix Super Market has 1,065 locations. It was established in the year 1930. George W. Jenkins, the founder, established the employee-owned chain with his initial Publix market at Winter Haven in Florida. In 1935, he opened a second store in Winter Haven, operating under the brand name Economy Food Store. These two stores thrived amidst the years of the Great Depression. The chain’s stores are located in Tennessee, Alabama, Georgia, South Carolina, Florida and North Carolina. The retail chain will continue its expansion in North Carolina through 2013 and 2014. It opened its first two stores in a Charlotte Suburb in North Carolina this year.