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Publix sales increase 4.5 percent to $8.7 billion in the first quarter

 
Publix Super Markets’ sales for the first quarter of 2016 hit $8.7 billion, a 4.5 percent boost from last year’s $8.3 billion. The Lakeland-based grocery chain chalks up the boost to the Easter holiday falling in the first quarter this year. Last year, Easter was in the second quarter. Sales increased 1.2 percent for this reason.
Publix Super Markets’ sales for the first quarter of 2016 hit $8.7 billion, a 4.5 percent boost from last year’s $8.3 billion. The Lakeland-based grocery chain chalks up the boost to the Easter holiday falling in the first quarter this year. Last year, Easter was in the second quarter. Sales increased 1.2 percent for this reason.
Published May 2, 2016

Publix Super Markets' sales for the first quarter of 2016 hit $8.7 billion, a 4.5 percent boost from last year's $8.3 billion.

The Lakeland-based grocery chain chalks up the boost to the Easter holiday falling in the first quarter this year. Last year, Easter was in the second quarter. Sales increased 1.2 percent for this reason, according to a news release.

Comparable-store sales for the first quarter grew 3.3 percent.

"I'm pleased that our Publix associates delivered strong results," Publix CEO and president Todd Jones said in a statement. "Unfortunately, these results were not enough to offset the challenges in the stock market."

Publix's net earnings for the first quarter reached $581.9 million, compared with $548.9 million a year earlier.

Effective Sunday, Publix's stock price decreased from $45.20 per share to $43.95. Publix stock is not publicly traded and is made available for sale only to Publix employees and members of its board of directors.