Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Carl Cronan is editor of Real Estate Florida.)

LAKELAND, FL-Locally based Publix Super Markets Inc. posted first-quarter sales of $6.4 billion, a 2.2% increase from the same quarter last year. The addition of dozens of stores in Florida and other Southeastern states contributed to the boost, while comparable-store sales were down nearly 3% from a year ago.

Publix reached its 1,000-store milestone earlier this year and has plans to open 32 more stores in 2009. The privately held grocer is in the process or reopening 49 stores acquired from Boise, ID-based Albertsons LLC throughout Florida last year.

Net earnings for this year’s first quarter were $321.5 million, down 6% from $343.2 million during the same three months in 2008. The value of Publix’s stock, which is traded only among company employees and directors, declined 3% over the year to $15.55 per share.

“The economy continues to affect our results and stock price,” Publix CEO Ed Crenshaw stated in a release. “We look forward to an improving economy.”

Publix, which posted $23.9 billion in sales last year, commands 40% market share among all grocers operating within Florida. The chain has additional stores in Georgia, Alabama, Tennessee and South Carolina.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.