Publix’s Q1 boosts stock price
LAKELAND, Fla. — Strong earnings and sales growth in the first quarter helped drive up Publix’s stock price.
Publix’s sales for the first quarter of 2011 were $6.8 billion, a 4.4% increase from last year’s $6.5 billion. Comparable-store sales for first quarter 2011 increased 2.8%. Net earnings for the quarter were $398.2 million, compared with $364.4 million in 2010, an increase of 9.3%. Earnings per share for the first quarter increased to 51 cents for 2011, up from 47 cents per share in 2010.
Effective May 1, Publix’s stock price increased from $20.90 per share to $21.65 per share, the company reported. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“Although the economy continues to be weak, I’m pleased our strong operating performance resulted in another increase in our stock price,” said Publix CEO Ed Crenshaw. “Our Publix associates continue to make us a leader in our industry.”
Rite Aid Foundation donates funds to tornado victims
CAMP HILL, Pa. — The philanthropic arm of retail pharmacy chain Rite Aid is donating $100,000 in money and supplies to victims of tornadoes in Alabama and Tennessee, the company said Friday.
The Rite Aid Foundation said it would donate $50,000 to the Red Cross and also would donate $50,000 worth of water, snacks, batteries, flashlights, first-aid products, diapers, baby formula and cleaning supplies.
“Our hearts go out to the victims’ families and communities affected by these devastating tornadoes,” Rite Aid Foundation president Mary Sammons said. “One of Rite Aid’s core values is to be caring neighbors in the communities we serve, and we are proud to partner with the American Red Cross and assist them in their mission of helping those most affected by the tornadoes in Alabama and Tennessee.”
A tornado outbreak last week is estimated to have caused more than 340 deaths and billions of dollars in damage, making it the deadliest outbreak since the one in early April 1936, which left 454 people dead, also mostly in the South.
HomeGoods, Petco to open at Granada Hills
Granada Hills, Calif. — Jacksonville, Fla.-based Regency Centers announced that it has leased nearly 39,000 sq. ft. of retail space in Granada Hills, Calif., at Granada Village to two additional anchors, HomeGoods and Petco.
HomeGoods has leased 27,500 sq. ft. and is slated to open in spring 2012. This is the first store in the market for this home furnishings retailer with the next closest location eight miles away.
Petco is scheduled to open in 11,350 sq. ft. this fall.