dpA sales slump is forcing the hand of Publix, as the grocer will close seven locations by the end of the year, according to multiple reports.
Four of the closings will be in Florida, two in Georgia and one in South Carolina.
Here are the locations that will be powering down in the coming weeks:
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St. Petersburg, Florida, at 5577 Park Street N
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Miami, Florida, at 8250 Mills Drive
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West Palm Beach, Florida, at 828 Southern Boulevard
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Palm Bay, Florida, at 4711 Babcock Street NE
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Atlanta, Georgia, at 1380 Atlantic Drive NW.
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Chamblee, Georgia, at 2562 Shallowford Road NE.
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Goose Creek, South Carolina, at 208 Saint James Avenue
Some of the locations will be rebuilt.
Publix reported modest sales growth in the second quarter as changes to Medicare drug pricing and softer consumer spending weighed on revenue and comparable store sales.
The Lakeland, Fla.-based grocer said sales totaled $15.7 billion for the 13 weeks ended June 27, up 1% from $15.6 billion in the year-ago period. For the first six months of the year, sales increased 1.5% to $31.9 billion from $31.4 billion.
Publix was coming off a rare earnings decline in Q1, citing some of the same reasons. The retailer posted net income of $794 million for the three months through March 28, a 21.5% decline from $1 billion in the year-ago first quarter. Most of the decline was due to the impact of unrealized losses on equity securities
Comparable-store sales in Q2 declined 0.5% during the quarter and were down 0.3% for the first six months of the year. Publix attributed the declines to the Medicare drug pricing changes and weaker consumer spending.
