Publix Sees Revenue Growth in Q4, FY2024
Publix Super Markets’ sales for its fourth quarter ended Dec. 28 were $15.5 billion, a 5.5% jump from the $14.7 billion logged in 2023. Comparable-store sales increased 4.1%.
Q4 net earnings were $1.2 billion, no change from the same period last year. Earnings per share increased to 37 cents per share, up from 36 cents per share in 2023. Excluding the impact of net unrealized gains on equity securities in 2024 and 2023, net earnings would have remained the same, at $1.1 billion. Earnings per share in Q4 would have been 34 cents per share, compared with last year’s 32 cents.
For fiscal year 2024, Publix’s sales were $59.7 billion, a 4.6% increase from $57.1 billion in 2023. Comps for FY2024 increased by 2.9%.
Net earnings for the fiscal year were $4.6 billion, a 6.6% rise year over year (YoY). Earnings per share for the fiscal year grew to $1.41 per share, up from last year’s $1.31 per share. Excluding the impact of net unrealized gains on equity securities in 2024 and 2023, net earnings for FY2024 would have been $4 billion, a 1% YoY decrease. Earnings per share for FY2024 and FY2023 would have been $1.23 per share.
“Publix’s success is due to our associates,” said Publix CEO Kevin Murphy. “I’m so thankful to serve with them in making shopping at Publix a pleasure.”
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Effective March 1, Publix’s stock price increased from $18.05 per share to $19.20 per share. Employee-owned and -operated Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
Meanwhile, Publix is continuing its push northward. The Florida-based grocer unveiled its first store in Kentucky in early 2024 and is getting ready to debut two more locations in the Bluegrass State this month. Publix will open a store in Lexington at 1952 Stockton Way on March 5 and one in Walton at 430 Richwood Road on March 26.
Other upcoming store openings include:
March 6:
Market at Newberry Farms (Store #2012)
24100 West Newberry Road, Suite 10
Newberry, Fla.
March 12:
Blue Angel Plaza (Store #1879)
9500 West Highway 98
Pensacola, Fla.
Quail Commons (Store #2017)
11525 Carmel Commons Boulevard
Charlotte, N.C.
March 13:
Shops at The Grove (Store #2041)
4112 East Johnson Avenue
Haines City, Fla.
Publix has 255,000-plus associates and more than 1,300 supermarkets in Florida, Georgia, Alabama, South Carolina, Tennessee, North Carolina, Virginia and Kentucky. The Lakeland, Fla.-based company is No. 12 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America. PG also named the company one of its Retailers of the Century.
