Publix Supermarkets posted huge sales gains and gains for the fourth quarter and fiscal year of 2020, fueled by growing consumer demand for food and groceries amid the COVID-19 pandemic.
For the quarter ended December 26, sales increased 14.8% to $ 11.2 billion from $ 9.8 billion a year earlier, with same-store sales growing 13.4% year-over-year, published the Publix yesterday. The grocer based in Lakeland, Florida, estimated that the impact of the pandemic increased sales in the period by 8.7%, or about $ 850 million.
Sales in fiscal 2020 reached $ 44.9 billion, an increase of 17.7% over the previous year’s $ 38.1 billion. Comparable store sales increased 16% from fiscal 2019. The coronavirus crisis boosted sales for fiscal 2020 by 12.1%, or about $ 4.6 billion, Publix said.
Ultimately, Publix posted fourth quarter net income of $ 1 billion, or $ 1.47 per share, compared to $ 789.3 million, or $ 1.11 per share, in the 2019 quarter. Net profit adjusted, which excludes unrealized net gains on equity securities in 2020 and 2019, was $ 918.5 million, or $ 1.32 per share, against $ 656.6 million, or 93 cents per share, in the prior year period .
For the full year, net income totaled $ 4 billion, or $ 5.67 per share, compared to $ 3 billion, $ 4.21 per share, in 2019. On an adjusted basis, excluding unrealized net gains on securities equity in 2020 and 2019, net income for fiscal 2020 was $ 3.7 billion, or $ 5.27 per share, against $ 2.6 billion, or $ 3.67 per share, a year earlier.
In his annual 10-K filing with the Securities and Exchange Commission, Publix said the profit from incremental sales driven by increased purchases of food and cleaning products by customers during the pandemic “more than made up for the additional costs incurred”. The latter included additional payroll, transportation and other costs to meet escalating sales demand and implement security measures for employees and customers.
Publix reported that its share price rose $ 60.20 per share on March 1 to $ 57.95 per share on November 1. A company owned by employees, the supermarket chain does not publicly trade its shares, which are available for sale only to current Publix associates and board members.
During 2020, Publix opened 39 supermarkets – including nine aftermarket locations – and remodeled 154 stores, the company said in the 10-K process. Fourteen supermarkets have been closed, but five must be replaced on the spot. In the fiscal year ended December 28, the retailer had 1,264 supermarkets, compared to 1,239 at the beginning of the year. The new liquid supermarkets added 1.2 million square feet in 2020, a 2.1% gain.
Publix said in its annual report that, at the end of fiscal 2020, 20 supermarkets were under construction in Florida, four in Georgia, three in Tennessee, two in Alabama and two in South Carolina. The company projects $ 1.6 billion in investments for 2021, compared to US $ 1.23 billion in 2020.
“It has been about a year since the pandemic began, and the efforts of our associates to serve our customers, communities and each other during this difficult period have been incredible,” said Publix CEO Todd Jones in a statement. communicated. “Now, in doing our part to administer the COVID-19 vaccine, we are proud to help our communities take the next step to get back to normal.”
Publix has been one of the supermarket chains most active in supplying COVID-19 vaccines, having administered more than 300,000 doses of the Modern vaccine in Florida, Georgia, South Carolina and Virginia on February 12.
On Tuesday the company opened its online registration system for COVID vaccines for consultations at 58 pharmacies in stores in South Carolina for the elderly, residents and long-term care workers, caregivers of clinically fragile children, and state and local government employees and contractors involved in immunizations and COVID-19 tests. This followed announcements of vaccine availability in all 730 of its pharmacies in Florida (for the elderly only) and 12 pharmacies in Georgia (for first responders, healthcare professionals, the elderly and their caregivers and residents and long-term care workers) ) Last week.
Publix currently operates 1,266 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.