Publix Reports Fourth Quarter and Annual Results for 2019
LAKELAND, FL - Publix has been in the newswires recently, having broken ground on a brand-new facility in North Carolina that invests nearly $400 million in the area. The grocer has another milestone to report, as its Q4 results noted $9.8 billion in sales.
“I'm delighted we had another increase in our stock price,” said Publix Chief Executive Officer Todd Jones, after the company’s stock price increased from $47.10 per share to $48.90 per share. “I'm proud of our Publix associates for continuing to make us a leader in our industry and providing legendary customer service.”
Highlights from Publix’s fourth quarter and annual results 2019 include:
- Net earnings for Q4 ending December 28, 2019, were $789.3 million
- Sales for the fiscal year ending December 28, 2019, were $38.1 billion, a 5.6 percent increase
- Comparable stores sales for Q4 increased 3.6 percent
A press release noted that Public adopted a new accounting standard in the first quarter of 2019 that changed accounting standards for operating leases. The new standard required the company to recognize $2.9 billion of operating lease rights and obligations as assets and liabilities on the balance sheet.
To see the financial report in its entirety, click here. And keep reading AndNowUKnow for the latest in industry news.