Sales rise, profits slip for grocery giant Publix

Driven by “premier customer service,” Lakeland-based supermarket chain Publix posted $7 billion in sales during the third quarter.

That represents a 5.6 percent year-over-year increase in quarterly sales for the company, the Orlando Sentinel reported. Publix CEO Ed Crenshaw cited superior service as the key reason for the surge. The company fell short in another key category, however. Its net earnings dropped 2.3 percent to $359.9 million.

A coveted anchor tenant at South Florida retail centers, Publix is not a publicly traded company. Its stock is only available to employees and directors. [Orlando Sentinel] – Eric Kalis