Publix CEO ‘Pleased’ by 2012 Operating Results

Publix Super Markets Inc. has reported sales for its 13-week fourth quarter of 2012 of $7 billion, a 3.6 percent drop from last year’s $7.2 billion, a 14-week period. Excluding the additional week in the fourth quarter of 2011, sales for the fourth quarter of 2012 would have grown 3.4 percent. Comparable-store sales for the fourth quarter of 2012 edged up 1.2 percent.

Net earnings for the fourth quarter of 2012 were $392.8 million, versus $399.5 million in 2011, a 1.7 percent dip. Earnings per share for the fourth quarter fell to 50 cents for 2012, from 51 cents per share in the year-ago period. Lakeland, Fla.-based Publix attributed the decrease in net earnings and earnings per share to the extra week in the fourth quarter of 2011.

For the fiscal year ended Dec. 29, 2012, a 52-week year, Publix’s sales were $27.5 billion, a 1.9 percent rise from last year’s $27 billion, a 53-week year. Excluding the extra week in 2011, sales for 2012 would have gone up 3.8 percent. Comps for 2012 increased 2.2 percent.

Net earnings for 2012, a 52-week year, were $1.6 billion, a 4 percent increase from last year’s $1.5 billion, a 53-week year. Earnings per share grew to $1.98 for 2012, from 2011’s $1.90 per share.

As of March 1, Publix’s stock price rose 70 cents, from $22.50 per share to $23.20 per share. Publix stock isn’t publicly traded and is made available for sale only to current associates and members of the company’s 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,” noted Publix CEO Ed Crenshaw. “As a result of our associates’ efforts, our stock price reached a new all-time high after considering stock splits.”

Privately owned and operated by its 157,000 employees, Publix has 1,069 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.