Southeastern retail giant Publix reported comparable-store sales and net earning gains in the fourth quarter of 2017.
Comp sales rose 3.2 percent, and net earnings were $767 million, up 40 percent from $545 million in the same quarter in 2016. Without the Tax Cuts and Jobs Act of 2017, earnings would have been $542 million, down .4 percent, according to Publix.
Sales at Lakeland, Florida-based Publix were $8.9 billion, down 2.1 percent from the year before, but the fourth quarter of 2016 contained in extra week. Without that extra week, sales would have been up 5 percent.
Publix also reported an increase in earnings per share, from 71 cents in the fourth quarter of 2016 to $1.04 a year later.
For the year, Publix’s sales totaled $34.6 billion, up 1.6 percent from 2016. Comparable-store sales for the year were up 1.7 percent. Net earnings were $2 billion, up 13.1 percent.