Publix, the largest employee-owned grocery chain in the United States, has announced its financial results for the fourth quarter and full year of 2022. The company reported strong performance and growth across its business segments, demonstrating its resilience in the face of the ongoing challenges posed by the COVID-19 pandemic.
During the fourth quarter, Publix’s sales increased by 5.6% to reach $11.3 billion, compared to the same period in the previous year. The company’s net earnings for the quarter were $1.3 billion, a significant increase of 21.8% compared to the previous year. For the full year, Publix’s sales increased by 15.6% to reach $49.5 billion, while net earnings increased by 31.7% to reach $4.6 billion.
The growth was driven by strong performance in all business segments, including grocery, pharmacy, and real estate. Publix’s grocery segment saw increased demand for essential items, particularly during the early stages of the pandemic, and the company was able to quickly adapt to meet the needs of its customers. Its pharmacy segment also experienced growth, driven by an increase in flu shots and COVID-19 vaccinations.
Publix’s real estate segment also contributed to its overall growth, with the company acquiring and developing new properties throughout the year. This included the acquisition of a 5.6-acre property in Jacksonville, Florida, where Publix plans to build a new store.
Publix’s performance during 2022 highlights its commitment to meeting the needs of its customers and communities, while also investing in its future growth. The company’s employee-owned structure, which gives associates a stake in the company’s success, has helped to foster a culture of excellence and commitment to service that has been critical to its success.
In conclusion, Publix’s strong financial results for the fourth quarter and full year of 2022 demonstrate its resilience and ability to adapt to changing market conditions. The company’s commitment to meeting the needs of its customers, communities, and associates has helped to drive growth across its business segments, and its employee-owned structure has helped to foster a culture of excellence and commitment to service. Looking ahead, Publix is well-positioned for continued success and growth in the years to come.
Business Snapshot
Publix Super Markets, Inc., commonly known as Publix, is an employee-owned American supermarket chain headquartered in Lakeland, Florida. 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.
Founder: George W. Jenkins
CEO: Todd Jones (Apr 30, 2016–)
Headquarters: Lakeland, FL
Founded: September 6, 1930, Winter Haven, FL
Subsidiaries: Publix Super Markets Charities, Real Sub, LLC
Number of employees: 230,000 (2022)
Publix operates throughout the Southeastern United States, with locations in Florida (836), Georgia (197), Alabama (83), South Carolina (66), Tennessee (53), North Carolina (51), and Virginia (19). Publix Super Markets, Inc.
Aprons.
GreenWise (products)
GreenWise Market (stores)
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Presto!
Publix Sabor.
LAKELAND, Fla., Feb. 22, 2023 — Publix, its customers and associates are working together to help alleviate hunger throughout the company’s operating area. Through its 2023 Feeding More Together spring campaign, Publix is helping nourish communities by providing nonperishable food and fresh produce to local Feeding America member food banks and pantries.
Customers donate at register
Beginning today, associates and customers can donate any dollar amount at the register (up to $1,000) to help support people experiencing food insecurity. Customer donations provide nonperishable food items needed most by local food banks and pantries to serve their clients.
Publix donates $5 million
As part of this effort, Publix is donating $5 million in fresh produce this spring to help alleviate hunger in the company’s operating area. These donations of fresh fruits and vegetables will help provide much-needed nourishment to people facing hunger.
“We are proud to continue our founder George Jenkins’ legacy of giving back to our communities,” said Publix CEO Todd Jones. “Through our Feeding More Together campaign, donations will be given to local food banks to help alleviate hunger for our neighbors experiencing food insecurity.”
