Publix operates a network of 1,383 stores across the US. Credit: Sadie Mantell/Shutterstock.

US-based supermarket chain Publix has reported an increase in net sales for the third quarter of 2024 by 4.9% to $14.6bn, up from $14bn in the same period in 2023. 

The company’s comparable store sales also saw an uptick of 3.4% for the three months ending 28 September 2024. 

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Net earnings of Publix for the quarter stood at $1.1bn – a substantial increase of 31.7% compared to $833m in the same period of the previous year.  

The company reported an increase in earnings per share, rising to $0.33 in Q3 from $0.25 per share in 2023.

For the first nine months of the fiscal year, the supermarket recorded sales of $44.2bn, up by 4.3% from $42.4bn in the same period of the previous year. 

Comparable store sales for this period increased by 2.5%.  

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Net earnings of $3.4bn were reported in the first three quarters, an 8.3% rise from $3.2bn in 2023. 

 Earnings per share also grew to $1.04 from $0.95. 

The nine-month net earnings, excluding net unrealised gains’ impact on equity securities, would have been $2.9bn, a slight decrease from $3bn in the previous year, with earnings per share at $0.90 compared to $0.91 in 2023. 

As of 1 November 2024, Publix’s stock price witnessed a growth from $16.46 to $18.05 per share.  

The company has more than 255,000 associates and operates a network of 1,383 stores across the US.

Publix CEO Kevin Murphy said: “During the last several weeks, many of our associates and customers have faced difficult times with Hurricanes Helene and Milton. I’m so proud of our associates for the comfort they bring to our customers and their fellow associates.”