LAKELAND, Fla. — Publix Super Markets here this week said the value of its stock, which is not publicly traded but is owned by current and former employees, was appraised at $20.70 per share, down from $20.80 in the preceding quarterly evaluation and from $20.90 in the quarter before that. The company, which operates about 928 supermarkets in the Southeast, posted a 6.5% gain in net income for the fourth quarter, to $311 million, on a 6.1% increase in sales, to $5.9 billion. Comparable-store sales were up 3.6%. For the full year, net income rose 7.9%, to $1.2 billion, on a 6.3% increase in sales, to $23 billion. Comps for the full year were up 4.3%. “Our operating performance continues to be solid under difficult economic conditions,” said Charles Jenkins Jr., chief executive officer.
Read More of Today's Headlines