Report: Publix sees $2.5 billion increase in sales due to COVID-19 pandemic
ORLANDO, Fla. - A new report shows that Publix has seen a $2.5 billion increase in sales due to the COVID-19 pandemic.
According to the Orlando Sentinel, Publix has made about $2.5 billion more in sales because of the COVID-19 pandemic in the first half of the year.
They said that over 1,250 grocery stores reported that sales for the three months ending on June 27th were $11.4 billion, which is an increase of 21.8 percent from $9.3 billion in that same quarter last year. Other stores were reportedly up about 19.9 percent.
Publix estimated that sales in the second quarter increased about $1.5 billion because of the pandemic, the Sentinel said. The first three months of the year also saw a $1 billion boost in sales.
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Then, the Sentinel said that net earnings for the second quarter were $1.4 billion compared to $666.1 million last year. Without those, earnings in the quarter were said to be $978.3 million, compared to $637 million in 2019.
Publix also reportedly increased its stock price on Saturday from $50.10 to $54.35. That is an 8.5 percent jump.
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