Publix Q4 Sales Up, Net Earnings Down
Publix Super Markets Inc. has reported sales for the third quarter of 2013 of $7 billion, a 5.6 percent increase from last year’s $6.7 billion. Comparable-store sales for the third quarter of 2013 rose 4.1 percent.
Net earnings for the third quarter of 2013 were $359.9 million, versus $368.4 million in the year-ago period, a decline of 2.3 percent. Earnings per share for the third quarter fell to 46 cents for 2013, from 47 cents per share last year.
The Southeast regional grocer’s sales for the first nine months of 2013 were $21.6 billion, a 5.2 percent rise from last year’s $20.5 billion. Comps for the first nine months of 2013 were up 3.4 percent.
Net earnings for the first nine months of 2013 were $1.23 billion, compared to $1.16 billion in 2012, an increase of 6.3 percent. Earnings per share rose to $1.58 for the first nine months of 2013, from $1.48 per share in 2012.
These amounts are based on unaudited reports to be filed next week with the U.S. Securities and Exchange Commission (SEC). The company’s quarterly report to the SEC will be available Nov. 7 on its website.
As of Nov. 1, Publix’ stock price increased from $27.55 per share to $30 per share. Publix stock isn’t publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“I’m very pleased we had another significant increase in our stock price, resulting in a 33 percent increase in our stock price over the last year,” said Ed Crenshaw, CEO of Lakeland, Fla.-based Publix. “Our associates continue to deliver premier customer service, the key to our success.”