Publix sales, earnings increase in 2017

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Publix sales, earnings increase in 2017

03/07/2018

Lakeland, Fla.-based Publix Super Markets said sales for the fourth quarter of 2017, a 13-week period, were $8.9 billion, a 2.1 percent decrease from last year’s $9.1 billion, a 14-week period. Excluding the additional week in the fourth quarter of 2016, sales for the fourth quarter of 2017 would have increased 5 percent. Comparable store sales for the fourth quarter of 2017 increased 3.2 percent.

Net earnings for the fourth quarter of 2017 were $766.6 million, compared to $544.5 million in 2016, an increase of 40.8 percent. Earnings per share for the fourth quarter increased to $1.04 for 2017, up from $0.71 per share in 2016.

Publix’s sales for the fiscal year ended Dec. 30, 2017, a 52-week year, were $34.6 billion, a 1.6 percent increase from last year’s $34 billion, a 53-week year. Excluding the additional week in 2016, sales for 2017 would have increased 3.5 percent. Comparable store sales for 2017 increased 1.7 percent.

Net earnings for 2017 were $2.3 billion, compared to $2 billion in 2016, an increase of 13.1 percent. Earnings per share increased to $3.04 for 2017, up from $2.63 per share in 2016.

Publix announced in its annual report that it plans to spend $1.5 billion in 2018 to remodel stores, build up its real estate portfolio and focus on technology.