Publix Sees Healthy Growth in Q4, FY 2016

Publix Super Markets reported healthy growth during its fourth quarter of fiscal 2016, with both net sales and comparable-store sales up during the period.

The quarter, which ended with the year on Dec. 31, 2016, and lasted a week longer than usual, had Publix reporting $9.1 billion, an 11.1 percent increase from last year’s $8.2 billion. The extra week in Q4 of 2016 boosted sales by 7.4 percent, according to the grocer. Comps grew 2.2 percent.

Publix’s net earnings for Q4 were $544.5 million, compared with $521.1 million in 2015, a 4.5 percent rise. The additional week benefited here, the grocer said.

For the overall year, sales came to $34 billion, a 5.1 percent uptick from $32.4 billion in 2015. The extra week in 2016 increased sales by 1.9 percent, the company noted. Comps edged up 1.9 percent.

Privately owned and operated by its 190,000 employees, Lakeland, Fla.-based Publix has 1,143 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.