Publix Super Markets Inc., have announced record sales of $30.6bn for 2014.
The grocer, based in Lakeland, released an annual report with details about an astounding 2014 and its plans to invest $1.3bn in new store and technology setup during 2015. The group also detailed plans to continue its investments in real estate, by purchasing the centers where its stores are anchors.
The profits of the company increased by almost 5% during 2014, to reach $1.74bn, compared to $1.65bn during 2013. Its stock price increased by 15.5% to $39.05 per share. The stock is not traded publicly and shares are only available to members of the board of directors and company employees.
In a time when many grocers are struggling to survive as specialty stores steal market share, Publix has released impressive figures for a traditional supermarket. The company is one of the biggest employers in the
Tampa Bay area. Of its 175000 employees, 33000 form part of the area’s workforce.
According to Tampa Bay Business Journal research, the amount of $30.6bn revenue is the highest annual amount ever recorded by a company within Tampa Bay.
The increase of comparable stores sales increased by more than 5% during 2014. These figures measure sales at established stores and exclude sales growth from new stores. Publix stated in its report that the increase in revenue was due to higher customer numbers and product cost inflation.
The planned 2015 investment amount of $1.3bn is much higher than during the past few years. During 2014, the company had a budget of $875m, but its report stated that the actual capital expenditure was in excess of $1.3bn during last year. During 2013, it spent $668.5m on capital expenditure.
The company opened 32 new stores during 2014, including 14 which were replacement stores, and it remodeled 138 stores. By the end of last year, the company owned 1095 stores:
- North Carolina – 6
- Tennessee – 38
- South Carolina – 51
- Alabama – 58
- Georgia – 182
- Florida – 760
At the time, five stores were being constructed in Florida, four within North Carolina and two within South Carolina.