Comparable store sales increased for Publix in the fourth quarter, while earnings received a windfall from the recent tax reform act.
Publix’s sales for the fourth quarter of 2017, a 13-week period, were $8.9 billion, a 2.1% decrease from last year’s $9.1 billion, a 14-week period. Comparable store sales for the fourth quarter of 2017 increased 3.2%.
Net earnings for the fourth quarter of 2017 were $766.6 million, compared to $544.5 million in 2016, an increase of 40.8%. Earnings per share for the fourth quarter increased to $1.04 for 2017, up from $0.71 per share in 2016. Net earnings and earnings per share were impacted by the passage of the Tax Cuts and Jobs Act of 2017. Excluding the impact of the tax act, net earnings would have been $542.4 million, a decrease of 0.4%, and earnings per share would have been $0.74.
Sales for the fiscal year were $34.6 billion, a 1.6% increase from last year’s $34 billion. Comparable store sales for 2017 increased 1.7%.
Net earnings for 2017 were $2.3 billion, compared to $2 billion in 2016, an increase of 13.1%. Earnings per share increased to $3.04 for 2017, up from $2.63 per share in 2016.
