The timing of the Easter holiday this year adversely affected first-quarter sales at Publix by 1.3% — Easter fell in the second quarter this year, rather than the first quarter as if did last year — but the company still posted a 4.1% increase to $7.8 billion from last year’s $7.5 billion.
Comparable-store sales for the quarter increased 4%.
Net earnings for the first quarter of 2014 were $493.7 million, compared to $471.3 million in 2013, an increase of 4.8%. Earnings per share for the first quarter increased to $0.63 for 2014, up from $0.61 per share in 2013.
Publix’s stock price increased from $30.15 per share to $32.50 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 proud of our Publix associates who continue to deliver premier customer service,” said CEO Ed Crenshaw. “Our good operating performance is a result of their hard work and dedication.”
Publix has 1,077 stores in Florida, Georgia, Alabama, South Carolina, Tennessee and North Carolina.