Publix sales remain sluggish in third quarter
Florida-based supermarket chain Publix posted Q3 sales of USD15.5 billion, up 1% from USD15.4 billion, while LFL sales fell 0.6%. Nine-month sales rose 1.4% to USD47.4 billion, with LFL sales down 0.4%. The retailer attributed the weakness to a Medicare maximum fair price change that cut prices on 10 drugs and to economic conditions affecting consumer spending. Net earnings fell 9.9% to USD1.1 billion. (Publix)
