{"id":27148,"date":"2022-11-17T19:45:25","date_gmt":"2022-11-18T00:45:25","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=27148"},"modified":"2022-11-17T19:45:30","modified_gmt":"2022-11-18T00:45:30","slug":"stock-split-losses-overshadow-publixs-core-performance","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2022\/11\/17\/stock-split-losses-overshadow-publixs-core-performance\/","title":{"rendered":"Stock-split losses overshadow Publix’s core performance"},"content":{"rendered":"\n

Unrealized losses on equity securities more than halved Publix Super Markets’ earnings last quarter.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The Lakeland-based grocery chain reported a 54% decrease in net earnings from $857 million last year to $394.1 million after ordering a 5-for-1 stock split in April.<\/p>\n\n\n\n

After the split, Publix shares, which are not publicly traded and only available to current employees and board directors, decreased in value from $68.80 to $13.76 per share, according to the company. Publix shares increased to $14.91 in the month after the split but are now down to $13.19.<\/p>\n\n\n

\n
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Publix CEO\u00a0Todd Jones<\/figcaption><\/figure>\n<\/div>\n\n\n

The stock market \u201ccontinues to be a challenge,\u201d Publix CEO Todd Jones said in a statement.<\/p>\n\n\n\n

Excluding the impact of the split, Publix\u2019s net earnings over the last nine months would have increased by 4.7% or $200 million over the same period last year. The grocer\u2019s sales over the last nine months increased by 10.7% over last year to $39.2 billion. Publix sales and net earnings for the full year 2021 reached $48 billion and $4.4 billion, respectively.<\/p>\n\n\n\n

Shareholders received five shares for every share owned as a result of the split in April in a bid to spur buying and increase the company\u2019s overall liquidity. The last time Publix\u2019s board of directors approved a stock split was in 2006 and, before that, in 1992.<\/p>\n\n\n\n

Publix is the largest private company in Polk County, with 232,000 employees last year, 27,000 of which were local.<\/p>\n","protected":false},"excerpt":{"rendered":"

Unrealized losses on equity securities more than halved Publix Super Markets’ earnings last quarter. The Lakeland-based grocery chain reported a 54% decrease in net earnings from $857 million last year… <\/p>\n","protected":false},"author":1,"featured_media":27150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[9],"tags":[3886],"class_list":["post-27148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-stock-split-losses-overshadow-publixs-core-performance"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/27148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=27148"}],"version-history":[{"count":0,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/27148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/27150"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=27148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=27148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=27148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}