Publix Posts Modest Sales Growth as Food Inflation Squeezes Shoppers

Publix posts modest sales growth as food inflation squeezes shoppers

Publix said sales for the quarter ended June 27 were $15.7 billion, up 1% from $15.6 billion a year earlier. Sales for the six months ended June 27 were $31.9 billion, a 1.5% increase from $31.4 billion. Comparable-store sales fell 0.5% for the quarter and 0.3% for the six-month period.

Rising food prices prompt shoppers to trade down, cutting Publix sales in ‘difficult’ economy

Publix’s second-quarter results put a spotlight on food inflation and its effect on grocery shopping, as the grocery chain posted only modest sales growth and a decline in comparable-store sales amid what it called economic conditions that have weighed on consumer spending.