US-based supermarket chain Publix has recorded $28.4bn in sales for the first half (H1) of fiscal year (FY) 2023, up 8.6% from $26.2bn in the same period in FY22.

The company’s comparable store sales for the period ending 1 July 2023 also increased 6.3% from last year.

Publix saw its net earnings rise 87.6% to $2.3bn in H1 FY23 compared to $1.2bn in the prior year’s period.

Its earnings per share (EPS) for the six months increased to $0.70 from $0.37 per share in 2022.

In the second quarter of FY23, the supermarket chain reported sales of $14.1bn, up 8.9% from $12.9bn in the corresponding period of the prior FY. Comparable store sales increased 6.2%.

Net earnings of Publix increased by 74.7% to $1.1bn over the quarter from $628m in Q2 FY22 and its EPS for the three months also rose to $0.33 from $0.18 in the same period a year ago.

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By GlobalData

Its stock price decreased from $14.97 per share to $14.75 per share starting 1 August 2023.

Publix CEO Todd Jones said: “As we enter the last half of the year, our associates remain focused on operational excellence and providing premier customer service. I’m so thankful to serve with them in making shopping at Publix a pleasure.”

The employee-owned company has a network of 1,346 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.

In May this year, the retailer reported its net sales in the first quarter of fiscal year 2023 increased by 8.2% to $14.3bn.