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Publix Posts Gains in Sales, Earnings

LAKELAND, Fla. — A strong fourth quarter, including a 4.4% increase in sales, helped Publix Super Markets here post record earnings in the 2010 fiscal year, the company said Tuesday.

Net income for the fourth quarter, which ended Dec. 25, totaled $342.1 million, up 20.4% over year-ago levels. Sales for the fourth quarter were $6.4 billion, with comparable-store sales increasing 3.2%.

For the fiscal year, profits improved by 5.3% to $1.3 billion, and sales increased by 3.3% to $25.1 billion, Publix said in a 10-K filing. Comparable-store sales for the year increased by 2.3%, following a 1.6% decrease in 2009.

Publix said its stock price has increased to $20.90 per share, up 5.3% from its last pricing in November. Publix stock is available only to employees and directors through a stock ownership program.

“I’m very pleased that our net earnings exceeded the record earnings we achieved in 2007, and our stock price has returned to its all-time high after considering stock splits,” Ed Crenshaw, chief executive officer of Publix, said in a statement. “Our associates deserve the credit for delivering these results in a difficult economic environment.”

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