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Publix Earnings Climb In 2012

March 6, 2013
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Grocery chain Publix said earnings for 2012 rose from a year ago, finishing up the year with a sluggish fourth quarter.

Same-store sales in 2012 rose 2.2 percent from 2011, the company said in a filing last week with the Securities and Exchange Commission. Same-store sales rose 1.2 percent in the fourth quarter.

“I’m pleased with the improvement in our operating results for 2012, a 52-week year, as compared with 2011, a 53-week year,” Publix CEO Ed Crenshaw said in a news release. “As a result of our associates’ efforts, our stock price reached a new all-time high after considering stock splits.”

Earnings for 2012 rose 4 percent from a year earlier to $1.6 billion, and total sales climbed 1.9 percent to $27.5 billion despite the shorter calendar.

Publix ranked 10thon the PLB Top 35 list for 2012 with an estimated $5.6 billion in private label sales in 2011. The retailer has more than 1,000 stores across five southeastern states. 

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