US: Retailer Publix posts sales, earnings growth
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.
Original source: Publix
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