Publix reported its third quarter results Nov. 2, showing comparable store sales down 0.6 percent. The results followed last week’s announcement of a new store lease in Culpeper, Virginia, and recognition on Fortune‘s 2026 Best Workplaces for Women list.
Q3: sales edge up, comps slip on Medicare pricing change
The Lakeland, Florida-based grocer’s sales for the three months ended Sept. 26 were $15.5 billion, a 1 percent increase from $15.4 billion a year ago, while comparable store sales decreased 0.6 percent.
For the nine months, sales rose 1.4 percent to $47.4 billion, with comparable sales down 0.4 percent.
Publix attributed the declines primarily to the Medicare maximum fair price change effective Jan. 1 – which reduced prices for 10 drugs – along with economic conditions impacting consumer spending.
“We know many of our customers are feeling the effects of a challenging economy,” said Publix CEO Kevin Murphy. “I’m proud of our associates for the premier service and care they provide to our customers during this time.”
Net earnings for the quarter were $1.1 billion, down 9.9 percent from $1.2 billion. Excluding net unrealized gains on equity securities, net earnings were $908 million, down 7.3 percent from $980 million.
For the nine months, net earnings of $3.5 billion were down 1.5 percent. Effective Nov. 1, Publix’s stock price decreased from $19.60 to $18.70 per share; the stock is not publicly traded and is available only to current associates and board members.
New store planned in Culpeper, Virginia
In store news, Publix has executed a lease for a new store at Dominion Square, at the northwest corner of James Madison Highway and Ira Hoffman Lane in Culpeper, Virginia. The 54,964-square-foot supermarket will employ approximately 140 associates, with an opening timeframe yet to be determined.
“We are excited to extend our growth across Virginia with a new location in Culpeper,” said Jared Glover, Publix media relations manager. “We look forward to bringing the Publix difference to our new customers in this vibrant community soon.”
Named a best workplace for women
In addition, Fortune named Publix one of its 2026 Best Workplaces for Women, based on a Great Place To Work survey asking women about their ability to thrive professionally, opportunities for advancement and feeling valued.
“This recognition is a reflection of the opportunities available to associates throughout our company,” said Marcy Benton, Publix VP of associate experience. “When our associates succeed, they strengthen our culture, our business and the communities we serve.”
Publix, the largest employee-owned company in the U.S. with approximately 260,000 associates, operates 1,450 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky.