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Article: Publix stock price rises 5 percent.
- Article from:
- The Ledger (Lakeland, FL)
- Article date:
- May 3, 2007
CopyrightCOPYRIGHT 2007 The Ledger. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kevin Bouffard
May 3--LAKELAND -- Publix Super Markets Inc. increased its privately held stock price by $1, or 5 percent, to $20.90 per share.
The increase was based on the Lakeland supermarket chain's performance in the quarter that ended March 31, which saw a 5.1 percent increase in "same-store sales," or stores open at least a year, the company announced Tuesday. Same-store sales is a key growth measure in the retail sector.
Total sales for the first quarter were $5.9 billion, a 6.7 percent increase from a year ago. The quarterly profit was $317.6 million (38 cents per share), up 10.1 percent from $288.4 million (34 cents) in the ...