Publix sales reach $8 billion, but stock price falls

Publix Super Markets sales grew to $8 billion in the third quarter this year, a 2.4 percent increase from last year's $7.8 billion, but its stock price dipped.

Comparable-store sales for the third quarter increased by 0.9 percent the same quarter.

"Unfortunately, our results were not enough to offset the challenges in the stock market," said Publix CEO Todd Jones in a statement. "I continue to be proud of our associates for delivering a premier customer shopping experience."

Publix's stock price dropped from $41.90 per share to $40.15 as of Nov. 1, according to a press release. Publix stock is not publicly traded and is available only to Publix associates and members of the company's board of directors.

Net earnings for the third quarter were $421.1 million which rose by 2.1 percent compared to $412.3 million last year.

The Lakeland-based grocer's sales for the first nine months of the year were $24.9 billion, a 3 percent increase from last year. Comparable-store sales for the same time period rose by 1.8 percent. Net earnings in the first nine months were $1.5 billion, up 2.6 percent from last year.

Earnings per share increased to $1.92 so far this year, up from $1.86 last year.