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Coronavirus boosts business at Publix by $1 billion
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LAKELAND, Fla. – While many businesses are struggling due to shutdowns, Publix reported a huge increase in profits for the first three months of 2020, buoyed by an estimated $1 billion due to the coronavirus pandemic.
Publix, an employee-owned company based in Lakeland, said Friday that its sales increased to $11.2 billion for the first three months of the year.
Sales through March 28 of this year were up 16.1% from $9.7 billion in the same quarter last year. The company estimates its sales during the three-month period increased about $1 billion, or 10.3%, due to the impact of the pandemic.
Coronavirus was declared a national emergency in mid-March, and grocery stores, declared essential businesses, have seen long lines as Americans stock
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