Supermarket chain Publix has reported positive sales growth for the third quarter, which exceeded its expectations given the impact of recent hurricanes.
The company’s sales for three months ended September 28 increased 4.9 per cent year-on-year to $14.6 billion, compared to the 0.6 per cent outlook provided by its management.
Comparable store sales for the period rose 3.4 per cent, while net earnings jumped 31.7 per cent to $1.1 billion.
“During the last several weeks, many of our associates and customers have faced difficult times with Hurricanes Helene and Milton,” said Publix CEO Kevin Murphy. “I’m so proud of our associates for the comfort they bring to our customers and their fellow associates.”
For the first nine months, sales grew 4.3 per cent to $44.2 billion and comparable store sales were up 2.5 per cent. Net earnings also increased 8.3 per cent to $3.4 billion.
The employee-owned company has 255,000 associates and 1383 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky.