Publix sales, profits and stock price inch upward in second quarter

Sales, profits and the price of the company's privately traded stock all inched up slightly at Publix Super Markets Inc. during the second quarter.

Revenues were $6 billion, up 3 percent from a year ago. Net income was $301 million, or 38 cents a share, up from $296 million, or 36 cents a share.

Publix stock, which is only available only to employees and insiders, was appraised at $16.05 a share, up from $15.55.

Sales in stores open more than a year, which excludes sales from new store growth, decreased 3 percent. While Publix did not offer a reason why, food prices stopped increasing in the first half of 2009 after a two-year run-up, according to the U.S. Bureau of Labor Statistics, and shoppers continue trading down to less expensive products.

Mark Albright can be reached at albright@sptimes.com or (727) 893-8252.