Publix reports Q3 results
LAKELAND, Fla. — Third-quarter sales for Publix rose 5.5% to $6.4 billion, the Florida-based supermarket retailer announced Tuesday.
Comparable-store sales also saw an increase, rising 4.3% for the period, while net earnings totaled $311.9 million, compared with $283.2 million the in year-ago period, reflecting a 10.1% increase. Earnings per share for the retailer were 40 cents, up from 36 cents in the same period last year.
Despite the positive results, however, Publix reported a decrease in its stock price, dropping to $20.20 per share, compared with $22.05 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors, the company noted.
"I’m pleased that our Publix associates delivered strong operating results," Publix CEO Ed Crenshaw said. “Unfortunately, these results were not enough to offset the continuing challenges in the stock market."
Walmart lifts veil on Black Friday specials
BENTONVILLE, Ark. — Walmart is offering customers an early, exclusive preview of its Black Friday specials.
Customers that sign up at Walmart.com for Walmart’s Facebook page will be able to view top assortments across a variety of categories. Walmart also will hold an early holiday sale beginning Nov. 5.
Walmart recently announced it was bringing back its Christmas layaway program.
"Walmart will be the Black Friday destination for the best prices on the hottest gifts, including brand-name electronics and toys," Walmart chief merchandising officer Duncan Mac Naughton said. "We know shoppers are watching every penny this season, so we’re sharing our Black Friday specials early this year so they can plan ahead and deliver a wonderful Christmas for their families."
Family Dollar promotes Beth MacDonald
MATTHEWS, N.C. — Family Dollar has appointed a new VP assistant general counsel and assistant secretary.
Family Dollar said its current assistant general counsel Beth MacDonald has been promoted to the new role. She will report to Family Dollar SVP and general counsel Jim Snyder.
MacDonald joined Family Dollar in 2010 as divisional counsel.