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Publix reports solid fourth quarter

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LAKELAND, Fla. — Publix Super Markets Inc. reported healthy sales and earnings gains in the fourth quarter and fiscal year.

Sales for the fourth quarter of 2016, a 14-week period, were $9.1 billion, an 11.1% increase from last year’s $8.2 billion, a 13-week period. The additional week in the fourth quarter of 2016 increased sales by 7.4% percent. Comparable-store sales for the fourth quarter of 2016 increased 2.2%.

Net earnings for the fourth quarter of 2016 were $544.5 million, compared to $521.1 million in 2015, an increase of 4.5%. Earnings per share for the fourth quarter increased to $0.71 for 2016, up from $0.68 per share in 2015. Net earnings and earnings per share benefited from the extra week in the fourth quarter of 2016.

Publix’s sales for the 53-week fiscal year ended December 31 were $34 billion, a 5.1% increase from last year’s $32.4 billion, a 52-week year. The additional week in 2016 increased sales by 1.9%. Comparable-store sales for 2016 increased 1.9%.

Net earnings for 2016 were $2.03 billion, compared to $1.97 billion for 2015, an increase of 3.1%. Earnings per share increased to $2.63 for 2016, up from $2.54 per share in 2015. Net earnings and earnings per share benefited from the extra week in 2016.

“I’m proud of our Publix associates — the owners of Publix — for continuing to make us a leader in our industry and providing a great shopping experience,” Publix chief executive officer and president Todd Jones said in a statement.

Publix is privately owned and operated by its 190,000 employees. Currently Publix has 1,143 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.


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