Easter holiday benefits Publix’ bottom line
Publix Super Markets Inc. reported net earnings of $661.1 million, or 92 cents a share, on sales of $9.3 billion for the second quarter of 2019. Earnings were up 7.3 percent and sales were up 6.8 percent compared to the same quarter a year ago. About 1.2 percent of the increase was due to the effect of the Easter holiday being in the second quarter in 2019 and in the first quarter in 2018, the Lakeland-based grocery chain said in a news release. Effective Aug. 1, Publix’s stock price droppd from $44.75 per share to $44.10 per share. The stock is not publicly traded and is made available only to current Publix employees and members of its board of directors.