For the fourth quarter, a 14-week period, Publix posted net earnings of $544.5 million, or 71 cents per share, versus $521.1 million, or 68 cents per share, for the 13-week 2015 period.
Fourth quarter comparable store sales increased 2.2% from the period a year previous, Publix maintained. Sales were $9.1 billion, up 11.1% from the year-earlier quarter. The additional week in the fourth quarter of 2016 increased sales by 7.4%, Publix stated.
For the full fiscal year, Publix’s net earnings were $2.03 billion, or $2.63 per share, versus $1.97 billion, or $2.54 per share, in the year earlier, the company asserted.
Comparable-store sales increased 1.9% year over year from the previous year, Publix indicated. Sales were up 5.1% to $34 billion from fiscal 2015. The additional week in 2016 increased sales by 1.9%.
In a United States Securities and Exchange Commission filing, Publix noted that comparable store sales for 2016 gained primarily due to increased product costs and customer counts. According to the filing, net earnings as a percentage of sales were 6% for fiscal 2016 versus 6.1% for fiscal 2015, with the decrease primarily due to a decline in gross profit as a percentage of sales partially offset by the incremental profit from the additional week.
