Second quarter comparable sales were up at Publix but earnings slipped versus a year-prior period hit by the COVID-19 pandemic.
Publix posted net earnings for the quarter of $1.01 billion, or $1.46 per share, versus $1.37 billion, or $1.94 per share, in the 2020 period. With the impact of net unrealized gains on equity securities in 2021 and 2020 excluded, net earnings for the quarter would have been $920.3 million compared to $978.3 million in the year-before period, and earnings per share would have been $1.33 per share versus $1.39 per share.
Comparable sales for the quarter increased 2.3% year over year. Net sales were $11.8 billion, up 3.9% from the year-previous period.
The price of Publix stock, available for sale only to current Publix associates and members of its board of directors, increased from $61.30 per share to $63.10 per share.