Publix Super Markets on Monday said sales in its fiscal fourth quarter improved by 6.9% to $7.4 billion, with comparable-stores improving by 6.4%. Net earnings were $453.3 million, compared to $422 million for the same period in 2013, an increase of 7.4%.
Earnings per share for the fourth quarter increased to 58 cents for 2014. Publix stock is available only to its employees and directors. Its price was adjusted to $39.05 per share, a 15% increase, based on the quarterly results.
“I’m extremely pleased our performance and improvements in the stock market resulted in a significant increase in our stock price,” Publix CEO Ed Crenshaw said in a statement. “Our associates — the owners of Publix — continue to deliver exceptional customer service, the key to our success.”
For the fiscal year, the Lakeland, Fla.-based company's sales improved 5.7% to $30.6 billion, with comps increasing by 5.4%. Net earnings for the year of $1.74 billion increased by 5.4%.
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