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The Tampa Bay Business Journal reports that Publix's Q1 results reflect the "ongoing challenges in the grocery industry," with same-store sales that were down 2.1 percent, which came after "28 consecutive quarters of same-store sales growth. The last time the grocer reported a decline in same-store sales was December 2009."

Publix total Q1 sales were down 0.4 percent from last year’s $8.72 billion, to $8.69 billion, with profit down 4.6 percent, to $555.3 million, compared to $581.9 million in 2016.

The story notes that Publix blamed a late Easter for the decline, but points out that "Publix is far from the only grocer to see financial declines in recent quarters. Cincinnati-based Kroger Co. ended a streak of same-stores sales growth that spanned 52 consecutive quarters when it reported its fourth quarter 2016 earnings." In addition, Publix has been investing in remodels and new store development that impacted its profits.
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