Publix

Publix Sees Soft Q1 Due to Late Easter

Overall sales flat, comps down

May 1, 2017, 04:06 pm

Publix Super Markets experienced flat overall sales and a decline in comparable-store sales during quarter one of fiscal 2017, due to the Easter holiday falling a quarter later this year than it did last year.

Q1 sales for the Lakeland, Fla.-based grocer this year were $8.7 billion, a 0.4 percent decrease from last year, while comps fell 2.1 percent. The company estimates that the timing of Easter had a 1.2 percent impact on sales.

Net earnings for Q1 were $555.3 million, a decrease of 4.6 percent from the same period in 2016.

“Our results were impacted by the timing of Easter, which was in the first quarter in 2016,” said Publix President and CEO Todd Jones. “Our associates continue to work hard every day to make shopping a pleasure at Publix.”

Publix is owned and operated by its 190,000 employees, with 2016 sales of $34 billion. It operates 1,144 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.

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