Publix Reports 4.6% Sales Rise in 2024

Publix Super Markets Inc. reported a 4.6% increase in sales for fiscal year 2024, totaling $59.7 billion, with net earnings rising 6.6% to $4.6 billion. Comparable-store sales increased by 2.9%, driven largely by inflation, which affected product costs and prices passed on to customers. In the fourth quarter alone, sales reached $15.5 billion, a 5.5% increase from the previous year, with net earnings remaining flat at $1.2 billion. Despite rising sales, experts noted that inflation impacted profitability, leading to a potential decrease in net earnings when excluding unrealized gains. The company opened 43 new supermarkets during the year, while its stock price recently saw a jump to $19.20 per share. Publix continues its growth strategy, although it plans to reduce its capital budget for 2025 by about 4%.