Publix profit more than doubles in Q1
May 5, 2021 - Publix Super Markets reported a 124 percent increase in net earnings for the first quarter of 2021. The Lakeland-based grocery chain said it had $1.5 billion in net earnings, or $2.16 a share, for the three months ended March 27, compared to net earnings of $667.3 million, or 94 cents a share, for the three months ended March 28, 2020. Sales for Q1 2021 were $11.7 billion, a 3.9 percent increase from $11.2 billion in the year-ago period. Publix said in a news release that about $900 million of the increase in sales in Q1 2021 was due to the impact of the coronavirus pandemic. The company's stock price increased from $60.20 a share to $61.30 a share, effective May 1. Publix stock is not publicly traded and is made available for sale only to current employees and members of the board of directors. Publix is one of the largest employers in St. Petersburg, with about 2,400 employees in the city in 2020, according to the city's comprehensive annual financial report.