Publix Sales Up 2.6% in Q4

Lakeland, Fla. Publix’s sales for the fourth quarter of 2008 were $6 billion, a 2.6% increase from last year’s $5.9 billion. Same-store sales for the fourth quarter of 2008 decreased 0.9%.

Net earnings for the fourth quarter of 2008 were $249 million, compared to $311 million in 2007, a decrease of 19.9%.

Publix’s sales for the fiscal year ended Dec. 27, 2008, were $23.9 billion, a 4% increase from last year’s $23 billion. Same-store sales for 2008 increased 1.3%.

Net earnings for 2008 were $1.1 billion, compared to $1.2 billion for 2007, a decrease of 8%.

“Like most companies, our results and stock price were negatively affected by the continued downturn in the economy,” said Ed Crenshaw, CEO, Publix. “During these difficult times, we remain focused on providing excellent customer service.”