Publix has posted earnings and sales growth for 2013

Publix has posted earnings and sales growth for 2013

US retailer Publix has reported higher annual sales and earnings.

The retailer booked a 6.6% increase in net earnings to US $1.7bn for the fiscal year ended 28 December 2013.

Annual sales grew 5.2% to $28.9bn. Comparable-store sales were up 3.6%.

Publix's fourth-quarter results followed a similar pattern. Net earnings climbed 7.4%. Net sales increased by 5.3% to $7.4bn. Comaparable-store grew 4.3%.

Publix's stock price increased from $30.00 per share to $30.15 per share.

"I'm pleased our operating performance resulted in another increase in our stock price," said Publix CEO Ed Crenshaw. "Our associates - the owners of Publix - deserve the credit for this achievement," he added.

Publix's stock price increased from $30.00 per share to $30.15 per share. The retailer's stock is not publicly traded and is made available for sale only to Publix associates and members of its board of directors.

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LAKELAND, Fla., March 3, 2014 - Publix’s sales for the fourth quarter of 2013, were $7.4 billion, a 5.3 percent increase from last year’s $7.0 billion. Comparable-store sales for the fourth quarter of 2013 increased 4.3 percent.

Net earnings for the fourth quarter of 2013 were $422.0 million, compared to $392.8 million in 2012, an increase of 7.4 percent. 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 percent increase from last year’s $27.5 billion. Comparable-store sales for 2013 increased 3.6 percent.

Net earnings for 2013, were $1.7 billion, a 6.6 percent 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.

These amounts are based on audited reports that will be filed today with the U.S. Securities and Exchange Commission and made available on the company’s website at www.publix.com/stock.

Effective March 1, 2014, Publix’s stock price increased from $30.00 per share to $30.15 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

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

Original source: Publix