Pandemic pushes up Publix sales, profit
August 6, 2020 - Publix Super Markets Inc. posted $1.4 billion in net earnings on sales of $11.4 billion in the three months ended June 27, the second quarter of its fiscal year. Earnings were up 106.8 percent compared to the same period a year ago, while sales were up 21.8 percent. The company said about $1.5 billion of its sales increase during Q2 2020 was due to the impact of the coronavirus pandemic. Publix, like other grocers, was classified as an essential business and did not close its stores. The company said it helped other businesses operating in the shopping centers it owns by offering two months of rent relief to companies that were impacted by the pandemic. Publix also said its stock price increased from $50.10 a share to $54.35 a share. The stock is not publicly traded and made available only to workers and board members. Publix is among the largest employers in St. Petersburg with about 2,000 employees in St. Petersburg in 2019.