Publix benefits from extra week

Lakeland, Fla.-based Publix Super Markets said it benefitted from an extra week in the 2016 fiscal year when it reported sales for the fourth quarter and the year. Publix's $2.03 billion in profits in 2016 and $34 billion in sales are records.

Publix, which offers three tiers of private brands, said its sales for the 14-week fourth quarter of 2016 were $9.1 billion, an 11.1 percent increase from last year’s $8.2 billion, a 13-week period. The additional week in the fourth quarter of 2016 increased sales by 7.4 percent. Comparable-store sales for the fourth quarter of 2016 increased 2.2 percent.

Net earnings for the fourth quarter of 2016 were $544.5 million, compared to $521.1 million in 2015, an increase of 4.5 percent. Earnings per share for the fourth quarter increased to $0.71 for 2016, up from $0.68 per share in 2015. Publix’s sales for the fiscal year ended Dec. 31, 2016, a 53-week year, were $34 billion, a 5.1 percent increase from last year’s $32.4 billion, a 52-week year. The additional week in 2016 increased sales by 1.9 percent. Comparable-store sales for 2016 increased 1.9 percent.

Net earnings for 2016 were $2.03 billion, compared to $1.97 billion for 2015, an increase of 3.1 percent. Earnings per share increased to $2.63 for 2016, up from $2.54 per share in 2015.

“I’m proud of our Publix associates — the owners of Publix — for continuing to make us a leader in our industry and providing a great shopping experience,” said Publix CEO and President Todd Jones.