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New Publix Appointments Follow Calendar-Confounded Results

Publix has announced appointments to four officer positions effective April 1. The announcement follows fourth quarter financial results impacted by a year over year difference in fiscal calendars.

Publix CEO Ed Crenshaw stated that the company has promoted Dave Bornmann to senior vp. He had been vp/grocery/non-foods. With Bornmann’s appointment as svp, the company promoted Pete Mowitt to vp grocery/non-foods. Publix also promoted Mike Smith to svp. He was vp/ manufacturing. With Smith’s promotion to his new position, the company promoted Jeff Stephens to vp/manufacturing. He was director of manufacturing operations.

“I am very proud that we continue to have talented associates who are ready to assume higher leadership roles in our organization,” said Crenshaw. “Our ability to promote from within is one of the ways we are able to perpetuate our Publix culture.”

Publix’s sales for the 2012 fourth quarter, a 13-week period, were $7 billion, a 3.6% decrease from last year’s $7.2 billion generated a 14-week period. Excluding the additional week, sales for the 2012 fourth quarter would have increased by 3.4%, Publix asserted. Comparable-store sales for the fourth quarter of 2012 gained 1.2%, it said.

In the 2012 fourth quarter, net earnings were $392.8 million versus $399.5 million in the year-prior period. Earnings per share for the fourth quarter decreased to 50 cents from 51 cents per share in the 2011 fourth quarter. Net earnings and earnings per share decreased due to the extra week in the fourth quarter of 2011, Publix related.

For the full 52-week fiscal year, Publix’s posted a 1.9% sales increase to $27.5 billion over the 53-week fiscal 2011. The additional week in 2011 excluded, sales for 2012 would have increased by 3.8%, the company pointed out. Comparable-store sales for 2012 increased 2.2%.

Net earnings for fiscal 2012, a 52-week period, were $1.6 billion, a 4% increase from the year earlier. Earnings per share increased to $1.98 in 2012 from $1.90 in the prior year.