Lakeland-based grocery chain Publix continues to benefit from the COVID-19 pandemic.
The supermarket chain posted its third-quarter sales revenue Monday, revealing it made $11.1 billion in sales revenue, which is an 18.3% increase from its 2019 third quarter.
According to the press release, $1.25 billion of these sales can be traced back to the COVID-19 pandemic. Publix’s sales revenue through nine months in 2020 is up 18.7% from this time back in 2019.
Publix’s sales for the second quarter of this year were $1.4 billion, compared to $661.1 million in 2019.
Company stock also rose from the year’s second quarter from $54.35 per share to $57.95 per share. Publix stock is privately held by current and former employees.
“Publix is doing well relative to the industry, especially given its momentum coming into this year,” said industry analyst Jon Springer in an interview with The Lakeland Ledger. He also said that pandemic-related buying has remained strong since March due to many schools and offices remaining closed.
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This article appears in Nov 5-11, 2020.