US supermarket chain Publix has reported net earnings of $4.3bn in the fiscal year 2023 (FY23), a 49% increase from the FY22 figure of $2.9bn.
The retailer’s earnings per share (EPS) for the year ending 30 December 2023 rose to $1.3, up from $0.8 in FY22.
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In FY23 Publix achieved sales of $57.1bn, a 4.7% increase from $54.5bn in FY22.
Excluding the additional week in 2022, the retailer’s sales for FY23 would have grown by 6.7%.
Its comparable store sales for FY23 saw a rise of 4.2%.
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In the fourth quarter (Q4) of fiscal 2023, Publix saw a 7.8% decrease in its net earnings of $1.2bn compared with $1.3bn in the corresponding period of 2022.
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By GlobalDataThe retailer’s EPS for Q4 FY23 was $0.3 against $0.3 in Q4 FY22.
During the quarter, the retailer posted $14.7bn in sales, a 4% decrease from the previous year’s $15.3bn. That fiscal year had the benefit of an extra week’s activity.
Excluding the fourth week in Q4 2022, sales for Q4 2023 would have increased by 2.8%. Comparable store sales grew by 0.4% in Q4 2023.
From 1 March 2024, the stock price of Publix increased from $15.1 to $15.2 per share.
Publix CEO Kevin Murphy said: “I’m proud of our friendly, knowledgeable associates who help our customers create memorable meals with their families and friends. I’m so thankful to serve with them in providing Publix’s premier service in our communities.”
In Q3 FY23, Publix reported net earnings of $833m, up 111.4% from $394m in the same period of FY22.
The employee-owned company operates 1,366 stores in the US and has more than 250,000 associates.
