Publix Super Markets, Inc., commonly known as Publix, is an employee-owned, American supermarket chain headquartered in Lakeland, Florida.[1]Founded in 1930 by George W. Jenkins, Publix is a private corporation that is wholly owned by present and past employees and members of the Jenkins family. [5] Publix operates throughout the Southeastern United States, with locations in Florida (821), Georgia (188), Alabama (74), South Carolina (62), Tennessee (46), North Carolina (43), and Virginia (16).[1]
Publix stands as one of the largest U.S. regional grocery chains. Locations are found as far north as Spotsylvania, Virginia, as far south as Key West, Florida, while the westernmost location is in Mobile, Alabama. Today, the state of Florida still has the largest number of stores, with 820, about two-thirds of the outlets. As of January 2019, Publix employs about 193,000 people[6] at its 1,250 retail locations, cooking schools, corporate offices, 9 grocery distribution centers, and 11 manufacturing facilities. The manufacturing facilities produce its dairy, deli, bakery, and other food products.[1]
Publix is ranked No. 47 on Fortune magazine's list of 100 Best Companies to Work For 2018, down from No. 21 in 2017,[7] was ranked No. 7 on Forbes'2017 list of America's Largest Private Companies, and is the largest in Florida.[8] Fortune ranked Publix #1 on their 2018 list of World's Most Admired Companies in the Food & Drug Stores sector.[9] The company's 2017 sales totaled US$34.6 billion, with profits of $2.3 billion, ranking No. 88 on Fortunemagazine's Fortune 500 list of U.S. companies by revenue for 2017.[10] According to the National Retail Federation, based on 2016 revenue, Publix is the fifteenth-largest U.S. retailer.[6][better source needed] Publix stock is only available for purchase by eligible active employees and non-employee members of its Board of Directors.
Our mission at Publix is to be the premier quality food retailer in the world.
To that end, we commit to be:
We will never knowingly disappoint you. If for any reason your purchase does not give you complete satisfaction, the full purchase price will be cheerfully refunded immediately upon request.
Our associates are the heart of Publix, and we’re always looking to recognize and reward them for their hard work, dedication and service! Associates are recognized for many reasons, including for
Here at Publix, we value our associates and take pride in rewarding those who make a difference in the lives of others.
We’re honored to celebrate the successes of our associates who are exceptional, and make our company a great place to work. After all, this is what our culture is all about!
LAKELAND, Fla., March 1, 2019 — Publix’s sales for the three months ended Dec. 29, 2018 were $9.3 billion, a 3.8 percent increase from $8.9 billion in 2017. Comparable store sales for the three months ended Dec. 29, 2018 increased 1.1 percent.
Net earnings for the three months ended Dec. 29, 2018 were $407 million, compared to $766.6 million in 2017, a decrease of 46.9 percent. Earnings per share for the three months ended Dec. 29, 2018 decreased to $0.57 per share, down from $1.04 per share in 2017. Net earnings and earnings per share for the three months ended Dec. 29, 2018 were negatively impacted by the new accounting standard requiring equity securities be measured at fair value with net unrealized gains and losses from changes in the fair value recognized in earnings. Additionally, net earnings and earnings per share for the three months ended Dec. 29, 2018 were positively impacted by the decrease in the federal statutory income tax rate from 35 percent to 21 percent effective in 2018 due to the Tax Cuts and Jobs Act of 2017 (Tax Act). Net earnings and earnings per share for the three months ended Dec. 30, 2017 were positively impacted by the one time remeasurement of deferred income taxes related to the Tax Act. Excluding the impact of the new accounting standard in 2018 and the one time remeasurement of deferred income taxes in 2017, net earnings for the three months ended Dec. 29, 2018 would have been $660.3 million, compared to $542.4 million in 2017, an increase of 21.7 percent. Earnings per share for the three months ended Dec. 29, 2018 would have been $0.92 per share, compared to $0.74 per share in 2017.
Publix’s sales for the fiscal year ended Dec. 29, 2018 were $36.1 billion, a 4.4 percent increase from $34.6 billion in 2017. Comparable store sales for the fiscal year ended Dec. 29, 2018 increased 2.1 percent.
Net earnings for the fiscal year ended Dec. 29, 2018 were $2.4 billion, compared to $2.3 billion in 2017, an increase of 3.9 percent. Earnings per share for the fiscal year ended Dec. 29, 2018 increased to $3.28 per share, up from $3.04 per share in 2017. Net earnings and earnings per share for the fiscal year ended Dec. 29, 2018 were negatively impacted by the new accounting standard. Additionally, net earnings and earnings per share for the fiscal years ended Dec. 29, 2018 and Dec. 30, 2017 were positively impacted by the Tax Act due to the decrease in the federal statutory income tax rate and the one time remeasurement of deferred income taxes, respectively. Excluding the impact of the new accounting standard in 2018 and the one time remeasurement of deferred income taxes in 2017, net earnings for the fiscal year ended Dec. 29, 2018 would have been $2.5 billion, compared to $2.1 billion in 2017, an increase of 21.8 percent. Earnings per share for the fiscal year ended Dec. 29, 2018 would have been $3.47 per share, compared to $2.74 per share in 2017.
These amounts are based on audited financial statements that will be filed today with the U.S. Securities and Exchange Commission and made available on the company’s website at corporate.publix.com/stock.
Effective March 1, 2019, Publix’s stock price increased from $42.70 per share to $42.85 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“Our fourth quarter results were impacted by an accounting rule change in 2018 and a one time adjustment due to the Tax Act in 2017. Excluding these items, our net earnings were strong in the fourth quarter,” said Publix CEO Todd Jones. “Our associates continue to provide legendary service to our customers.”