Publix increases presence in Kentucky

Publix plans a series of new stores for its next move in Northern Kentucky.

A Gateway Commons location will open Oct. 3, and another location in Farmview Commons will open Oct. 7, according to multiple reports.

Northern Kentucky expansion

The Lakeland, Florida-based grocer will eventually operate five stores in Northern Kentucky, an area known for decades as Kroger territory.

Publix operates seven locations in the state after opening in Louisville in early 2024.

The company has stores in Cold Spring, Lexington and Walton. It plans four more in Elizabethtown, Florence, Hebron and Independence.

The retailer aims to operate a dozen stores in the Bluegrass State by year’s end.

Sales and revenue growth

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, Florida-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. Sales increased 1.5% to $31.9 billion from $31.4 billion for the first six months of the year.

Publix came 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. Unrealized losses on equity securities caused most of the decline.