US supermarket group Publix has booked an increase in full-year net earnings, despite the “difficult” trading environment.
In 2009, the company earned US$1.2bn, an increase of 6.6% on 2008. Earnings per share increased to $1.47 for 2009, up from $1.33 per share in 2008.
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Publix’s sales for the fiscal year ended 26 December amounted to $24.3bn, a 1.6% increase on the prior year. Comparable-store sales, however, dropped 3.2%.
“I’m pleased our operating performance and stock price improved in this difficult economic environment,” said Publix CEO Ed Crenshaw. “Our associates, the owners of Publix, deserve the credit for these results as they continue to make us a leader in customer service.”
For the fourth quarter, sales edged up 1% to reach $6.1bn, while comparable-store sales dropped 2.5%.
Net earnings amounted to $284.2m for the quarter, an increase of 14.1% on the comparable period of 2008. Earnings per share increased to $0.36 for 2009, up from $0.31 per share in the prior year.
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