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Publix posts 7.4% increase in profits
Publix continues to be a blockbuster in its industry, as the grocery chain posted a 7.4% increase in profits in the fourth quarter.
The Florida-based retailer reported a profit of $453.3 million in the fourth quarter, compared to $422 million in 2013. Earnings per share for the fourth quarter increased to $0.58 for 2014, up from $0.54 per share in 2013. Publix reported net sales of $7.9 billion; same store sales increased 6.4%.
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Lumber Liquidators hit hard by '60 Minutes' report
When Lumber Liquidators executives talked about earnings in a conference call last week, they alluded to an upcoming "60 Minutes" investigation of the company's business practices. Turns out, the CBS report was a lot more damning than some analysts expected.
The company's shares tumbled drastically on Monday, with the stock price falling more than 24%.

