Market Overview

Publix Announces 4th Quarter and Annual Results for 2017

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Publix's sales for the fourth quarter of 2017, a 13-week period, were
$8.9 billion, a 2.1 percent decrease from last year's $9.1 billion, a
14-week period. Excluding the additional week in the fourth quarter of
2016, sales for the fourth quarter of 2017 would have increased 5
percent. Comparable-store sales for the fourth quarter of 2017 increased
3.2 percent.

Net earnings for the fourth quarter of 2017 were $766.6 million,
compared to $544.5 million in 2016, an increase of 40.8 percent.
Earnings per share for the fourth quarter increased to $1.04 for 2017,
up from $0.71 per share in 2016. Net earnings and earnings per share
were impacted by the passage of the Tax Cuts and Jobs Act of 2017 (Tax
Act). Excluding the impact of the Tax Act, net earnings would have been
$542.4 million, a decrease of 0.4 percent, and earnings per share would
have been $0.74. Net earnings and earnings per share also were impacted
by the extra week in the fourth quarter of 2016.

Publix's sales for the fiscal year ended Dec. 30, 2017, a 52-week year,
were $34.6 billion, a 1.6 percent increase from last year's $34 billion,
a 53-week year. Excluding the additional week in 2016, sales for 2017
would have increased 3.5 percent. Comparable-store sales for 2017
increased 1.7 percent.

Net earnings for 2017 were $2.3 billion, compared to $2 billion in 2016,
an increase of 13.1 percent. Earnings per share increased to $3.04 for
2017, up from $2.63 per share in 2016. Excluding the impact of the Tax
Act, net earnings would have been $2.1 billion, an increase of 2.1
percent, and earnings per share would have been $2.74.

These amounts are based on audited reports that will be filed today with
the U.S. Securities and Exchange Commission and made available on the
company's website at corporate.publix.com/stock.

Effective March 1, 2018, Publix's stock price increased from $36.85 per
share to $41.40 per share. Publix stock is not publicly traded and is
made available for sale only to current Publix associates and members of
its board of directors.

"I'm delighted we had a significant increase in our stock price," said
Publix CEO & President Todd Jones. "I'm proud of our associate owners
for their dedicated service to our customers and communities."

Publix is privately owned and operated by its 190,000 employees.
Currently Publix has 1,172 stores in Florida, Georgia, Alabama,
Tennessee, South Carolina, North Carolina and Virginia. The company has
been named one of Fortune's "100 Best Companies to Work For in America"
for 21 consecutive years. In addition, Publix's dedication to superior
quality and customer service is recognized among the top in the grocery
business. For more information, visit the company's website, corporate.publix.com.

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