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Grocer’s sales surge by 21% in second quarter

Lakeland-based Publix generated $11.4 billion in revenue.


  • By Brian Hartz
  • | 12:52 p.m. August 4, 2020
  • | 2 Free Articles Remaining!
Courtesy. Lakeland-based Publix generated $11.4 billion in revenue in the second quarter of 2020, a 21.8% increase over the same period last year.
Courtesy. Lakeland-based Publix generated $11.4 billion in revenue in the second quarter of 2020, a 21.8% increase over the same period last year.
  • Tampa Bay-Lakeland
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LAKELAND — The coronavirus pandemic has not slowed sales growth at Lakeland-based Publix Super Markets Inc., with the grocer reporting $11.4 billion in revenue in the second quarter of 2020, up from $9.3 billion — a 21.8% increase — during the same period last year. 

Deemed an essential business during the COVID-19 crisis, Publix was never required to close as the virus spread. 

According to a press release, Publix — which operates more than 1,250 stores in seven states — not only stayed open, but offered two months of rent relief to businesses operating in its company-owned shopping center. The grocer estimates that the coronavirus pandemic directly boosted its second-quarter sales by $1.5 billion, or 16.1%. 

Publix, though privately held, issues stock to its employees and members of its board of directors. As of Aug. 1, its stock price had increased from $50.10 per share to $54.35 per share, the release states.

“Our associates’ efforts to serve our customers and communities have been remarkable,” Publix CEO Todd Jones states in the release. “I want to thank our associates for the comfort they bring to our customers and their fellow associates during this difficult time. It is heartwarming to see how much they care.”

 

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