Publix adjusted earnings and comparable store sales advanced in the first quarter, the period that closed shortly before the company announced a stock split.
Sales were $13.2 billion, a 13.5% increase from the year-previous period as comparable-store sales gained 11.7%.
A Publix 5-for-1 stock split became effective as of the close of business on April 14, the company noted. As a result, Publix adjusted the company’s stock price from $68.80 per share to $13.76 per share. Effective May 1, Publix’s stock price advanced from $13.76 per share to $14.91 per share. Publix stock is available for sale only to current Publix associates and members of its board of directors and is not publicly traded.
“After two years of the difficult pandemic, we are delighted to share the news of a stock split and now a stock price increase,” said Publix CEO Todd Jones, in announcing the financial results. “This good news is the result of the efforts of our associate owners and their dedication to serving our customers, communities and each other.”