Supermarket retailer turns in solid quarter

Publix Supermarkets’ sales and profit rose in the fourth quarter amid continued expansion.



Publix’s net earnings for the fourth quarter rose 4.5% to $544.5 million, from $521.1 million in the year-ago period.



Sales rose 11.1% to $9.1 billion. (The additional week in the fourth quarter of 2016 increased sales by 7.4%.) Same-store sales increased 2.2%.



Publix has been expanding, opening stores in the Carolinas. It will open its first stores in Virginia this year.



For the full year ended Dec. 31, 2016, Publix rang up $34 billion in sales, a 5.1% increase from last year. Comparable-store sales rose 1.9%.



Net earnings for 2016 were $2.03 billion, compared to $1.97 billion for 2015.



Effective March 1, 2017, Publix’s stock price increased from $40.15 per share to $40.90 per share. Publix stock is not publicly traded and is available for sale only to current Publix associates and members of its board of directors.



“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,” said Publix CEO & president Todd Jones.



Currently Publix has 1,143 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.