Fourth-quarter results boost Publix stock

Publix’s sales for the fourth quarter of 2013 boosted the company’s stock price from $30 per share to $30.15 per share.

The company reported sales of $7.4 billion, a 5.3% increase from last year’s $7 billion. Comparable-store sales for the fourth quarter of 2013 increased 4.3%.

Net earnings for the fourth quarter of 2013 were $422 million, compared to $392.8 million in 2012, an increase of 7.4%. Earnings per share for the fourth quarter increased to $0.54 for 2013, up from $0.50 per share in 2012.

Publix’s sales for the fiscal year ended Dec. 28, 2013, were $28.9 billion, a 5.2% increase from last year’s $27.5 billion. Comparable-store sales for 2013 increased 3.6%.

Net earnings for 2013, were $1.7 billion, a 6.6% increase from last year’s $1.6 billion. Earnings per share increased to $2.12 for 2013, up from $1.98 per share in 2012.

“I’m pleased our operating performance resulted in another increase in our stock price,” said CEO Ed Crenshaw. “Our associates — the owners of Publix — deserve the credit for this achievement.”

Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors. The company is privately owned and operated by its 166,000 employees. It currently operates 1,077 stores in Florida, Georgia, Alabama, South Carolina, Tennessee and North Carolina.

 

 

Recommended stories

Login or Register to post a comment.