New book by Larry Connors Click here Improve your trading - See how
Publix reported earnings of $300.8 million for the quarter, up 1.7 percent from the year before. Sales grew 2.7 percent to $6 billion, but same-store sales fell 2.6 percent. Earnings per share increased to 38 cents versus 36 cents the year prior. Publix stock -- sold only to employees and board members -- rose to $16.05 per share, up 50 cents from its last pricing in May. "Although the economy continues to be weak, I'm pleased with the improvement in our operating results and stock price," said Publix Chief Executive Officer Ed Crenshaw in a prepared statement. Phil Lempert, a supermarket analyst based in California, said Publix and other grocers are faring well as consumers continue to trim spending by purchasing store brands, and eschewing restaurants. "Publix is one of the best retailers when it comes to private label. They're going to have better margins on their own products than national brands; that's one of the reasons you see profits are up," Lempert said. However, shoppers are also trading down on their grocery budgets, which might explain Publix's weak same-store sales, Lempert said. "They're still eating as much food and buying as many products, but they're looking for things that are less expensive," he said. Industry consultant Jim Hertel said Publix is also likely feeling pressure from competitors such as Wal-Mart and Aldi, which are appealing to a growing number of discount-minded consumers. "People will pay a little bit more even knowing they're paying more for superior service, but there becomes a point at which people say, 'I love shopping there but I can't justify it anymore,'" said Hertel, managing partner of Illinois-based Willard Bishop. Among Publix competitors, Jacksonville-based Winn-Dixie Stores saw earnings rise 11 percent to $16.6 million in its fiscal third quarter. Cincinnati-based Kroger Co. saw profits rise nearly 13 percent to $435.1 million in its fiscal first quarter. [ Kyle Kennedy can be reached at kyle.kennedy@theledger.com or 863-802-7584. ] To see more of The Ledger or to subscribe to the newspaper, go to http://www.theledger.com. Copyright (c) 2009, The Ledger, Lakeland, Fla. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. For full details for PUSH click here.
Email Print Archives Feedback Email Article Link
Close X
Most Popular News
UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Thursday December 3 12:30 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.
The TradingMarkets Directory
Stocks
Options
Forex
E-mini/Futures
How to Trade
Tools
PowerRatings
Blogs
Premium Subscription Services
RELATED SITES
Please call 1-213-955-5858 ext. 1
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment. HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. The Connors Group, Inc. © Copyright 2009 The Connors Group, Inc. All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy. © 2009 The Connors Group, Inc.
|
