International | Publix Super Markets (2024)

FAQs

Is Publix doing well financially? ›

Publix's sales for the fiscal year ended Dec. 30, 2023, a 52-week year, were $57.1 billion, a 4.7% increase from $54.5 billion in 2022, a 53-week year.

In 2023, Publix's net income increased only from $4.05 billion to $4.09 billion year-over-year, or a 0.1 percent increase. While the company does report a 49 percent increase in net income in its 2023 annual report, this occurs only when an increase in the value of equity securities held by the company is included.

In March, Publix reported net earnings of $4.3 billion in 2023, up nearly 50% from the $2.9 billion reported in 2022. But the employee-owned supermarket did see net earnings drop 7.8% in the fourth quarter of the year to $1.2 billion.

At Publix, our mission is to be the premier quality food retailer in the world. Toward this mission, we aim to satisfy the needs of our customers better than the competition, provide a superior shopping experience, and ensure that our customers receive a superior value. You expect the best in your career.

Hourly pay at Publix Super Markets Inc ranges from an average of $11.39 to $19.60 an hour. Publix Super Markets Inc employees with the job title Meat Cutter make the most with an average hourly rate of $17.21, while employees with the title Bagger make the least with an average hourly rate of $11.03.

Publix has announced that Kevin Murphy, who started his career as a front service clerk in Margate in 1984, will become the CEO, effective January 1, 2024. He will replace current CEO Todd Jones, who is slated to become the grocer's executive chairman. Jones's total compensation in 2022 was $3,197,768.

Jenkins, Publix is a private corporation that is wholly owned by present and past employees and members of the Jenkins family.

We hold no long-term debt, continually open new stores and see profits increase year after year. As other retailers have come and gone over the years, Publix has managed to stay profitable by keeping up with customers' changing needs.

Employee Stock Purchase Plan

Associates become eligible to purchase Publix stock after one full year of continuous employment. With these three plans, it's not uncommon to hear about people who've retired from Publix as millionaires.

How rich is Publix? ›

We are the largest employee-owned company in the United States. We are one of the 10 largest-volume supermarket chains in the country. Our retail sales in 2022 reached $54.5 billion. Currently, we employ over 255,000 people.

Publix is not a publicly traded company. As mentioned, it's privately owned by the founder's family and past and present employees.

According to GlobalData's global consumer survey Q3 2021, ~18.1% of US consumers prefer to purchase food & groceries from Publix. A large chunk of its core customers are millennials, who prefer easy & convenient shopping who account to 42.4% of its total consumer base.

On Sept. 6, 1930, George Jenkins opened the first Publix location, known then as Publix Food Store, in Winter Haven, Florida. Today, that brick-and-mortar building is still standing, occupied by a restaurant called Tempo 1930. By 1935, Jenkins opened his second location on the opposite side of Winter Haven.

The motto was, “No purchase is complete until the meal is eaten and enjoyed,” but with an expanding mix of products and services, the statement was updated in 1972. This became — and is still known as — the Publix Guarantee: “We will never knowingly disappoint you.

Publix's final quarterly sales figures showed sales for the 13-week quarter were $14.7 billion – a 4% decrease from $15.3 billion in 2022, a 14-week quarter, the grocer said. Excluding the additional week in the fourth quarter of 2022, sales for the fourth quarter of 2023 would have increased 2.8%.

Due to debt repayement of -3.33% Publix Super Markets Inc improved Total Debt to Equity in first quarter 2024 to 0, a new company low. Within Grocery Stores industry Publix Super Markets Inc achieved the lowest Total Debt to Equity in the first quarter 2024.

Net earnings for the three months ended March 30, 2024 were $1.4 billion, compared to $1.2 billion in 2023, an increase of 10.1%. Earnings per share for the three months ended March 30, 2024 increased to $0.41 per share, up from $0.37 per share in 2023.

It's not surprising that Publix's annual employee turnover rate averages 5% when the industry standard can be as high as 65%. Among industry peers, Publix is notable for its high operating margins.