LAKELAND, Fla. — Publix Super Markets here said Friday that its net income rose 4% in 2012, on a 1.9% increase in sales, and said its stock hit an all-time high.
Sales would have been up 3.8%, excluding an extra week in fiscal 2011, Publix said.
The extra week, which occurred in the fourth quarter of 2011, also impacted fourth-quarter results. Net income for the 13-week fourth quarter of 2012 totaled $392.8 million, down 1.7% vs. the 14-week fourth quarter of 2011. Sales for the fourth quarter of 2012 were $7 billion, down 3.6% — but would have been up 3.4% excluding the extra week in 2011. Comparable-store sales were up 1.2%.
For the year, Publix reported net income of $1.6 billion on sales of $27.5 billion. Excluding the extra week, sales for the year would have risen by 3.8%. Comps rose 2.2% for the full year.
More news: Publix Leads All Retailers In Satisfaction Index
Effective March 1, Publix’s stock price increased 70 cents to $23.20 per share. Publix stock is not publicly traded and is made available for sale only to current Publix employees and members of its board of directors.
“I’m pleased with the improvement in our operating results for 2012, a 52-week year, as compared with 2011, a 53-week year,” said Ed Crenshaw, chief executive officer, Publix. “As a result of our associates’ efforts, our stock price reached a new all-time high after considering stock splits.”
Publix operated 1,069 locations as of Dec. 29. During the year it opened 31 supermarkets, including 12 replacement stores, and remodeled 113 locations. Eight stores were closed during the year.
| Suggested Categories | More from Supermarketnews |
 |
|
|
|
