Sam Ash closing all stores

Publix reported earnings and sales increases for its first quarter.

Net earnings increased 10.1% to $1.4 billion for the quarter ended March 30, compared to $1.2 billion in the year-ago period. Adjusted earnings per share were $0.33, compared to $0.32 per share in 2023.

Sales rose 5% to $15.1 billion. Comparable store sales increased 2.8%. The company estimates sales increased 1% due to the effect of the Easter holiday being in the first quarter of 2024. In 2023, the effect of the Easter holiday was in the second quarter.

Effective May 1, 2024, Publix’s stock price increased from $15.20 per share to $16.25 per share. (Publix stock is not publicly traded and is made available for sale only to current Publix employees and members of its board of directors.)

“I’m proud of our associates, the owners of Publix, for continuing to make shopping a pleasure for our customers,” said Publix CEO Kevin Murphy.

Based in Lakeland, Fla., Publix is the largest employee-owned company in the U.S. with more than 255,000 associates. It currently operates 1,376 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky.