Publix reports rise in sales, stock price
The Lakeland-based chain announced quarterly sales of $7.9 billion, a 6.9 percent increase from the $7.4 billion in sales one year earlier.
Meanwhile, its quarterly net earnings — after-tax profits — rose 7.4 percent to $453 million, compared to $422 million in the fourth quarter of 2013.
"There are a few grocery companies in the country that are having that kind of result, but it's not terribly common," said Lorrie Griffith, editor of the Shelby Report, of Publix's run of good financial fortune.
The Shelby Report is a monthly publication that focuses on the food and grocery industry.
She said supermarket chains like Whole Foods and Kroger have been experiencing similarly steady success.
Griffith attributes Publix's good fortune to its emphasis on customer service and smart promotion of Buy One, Get One Free deals.
"You always hear that customer service is a big differentiator for Publix, and that continues to be the case for them," she said. "And the BOGO deals make shoppers feel like they're getting better deals, which is important because their price point is a little higher than grocery offerings in stores like Wal-Mart."
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