Publix - Finacial Analysis

History and Background

General Information

Ð'* Founded by the late George W. Jenkins in 1930 in Winter Haven, Florida.

Ð'* Largest employee-owned supermarket chain in the United States.

Ð'* One of the 10 largest-volume supermarket chains in the United States.

Ð'* 2006 retail sales of $21.7 billion.

Ð'* Current employee count of more than 146,000.

Store Locations

1,028 supermarkets in:

Ð'* Florida - 665

Ð'* Georgia - 172

Ð'* South Carolina - 41

Ð'* Alabama - 30

Ð'* Tennessee - 20

Distribution Centers

Ð'* Boynton Beach, Florida

Ð'* Miami, Florida

Ð'* Deerfield Beach, Florida

Ð'* Orlando, Florida

Ð'* Jacksonville, Florida

Ð'* Sarasota, Florida

Ð'* Lakeland, Florida

Ð'* Lawrenceville, Georgia

Manufacturing Facilities

Ð'* Atlanta, Georgia - Bakery Plant

Ð'* Deerfield Beach, Florida - Dairy Plant, Fresh Foods

Ð'* Jacksonville, Florida - Fresh Foods

Ð'* Lakeland, Florida - Bakery Plant, Dairy Plant, Deli Kitchen, Fresh Foods, and Printing Services

Ð'* Lawrenceville, Georgia - Dairy Plant

Business Award Recognition

Ð'* Received the Diversistar Award for excelling in promoting workplace diversity practices (2003)

Ð'* Named by Child magazine as one of the Top 10 Family-Friendly Supermarkets (2003)

Ð'* One of the top companies in FORTUNE's list of "100 Best Companies to Work For" (1998 - 2008)

Ð'* One of the nation's Outstanding Employers of Older Workers, according to Experience Works (2002)

Ð'* One of BestJobsUSA.com's "Employers of Choice 500" (2001)

Ð'* One of Computerworld's Best Places to Work in IT. (2005-2007)

Ð'* One of Central Florida Family magazine's top companies for working families (1999)

Ð'* One of the top 10 companies in the book, "The 100 Best Companies to Work for in America" (Currency/Doubleday, 1993)

Ð'* Winner of the Mid-Florida Society for Human Resource Management Diversity Award (2003)

Ð'* Catalyst Blue Ribbon Board of Fortune 500 Companies with Multiple Women Directors (1998 - 2002)

Publix’s mission statement is to be the premier quality food retailer in the world. The company is commited to be passionately focused on customer value. It is also intolerant of waste, dedicated to the dignity, value, and employment security of its associates, devoted to the highest standards of stewardship for its stockholders, and is involved as responsable citizens in a store’s respective community.

Footnote: History and background was obtained from the Publix Associate Handbook. It is available on request.

2005 and 2006 Balance Sheets

PUBLIX SUPER MARKETS, INC.

Consolidated Balance Sheets

December 30, 2006 and

December 31, 2005

Assets 2006 2005

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(Amounts are in thousands)

Current assets

Cash and cash equivalents $ 223,571 335,969

Short-term investments 126,221 119,303

Trade receivables 363,020 354,950

Merchandise inventories 1,151,907 1,109,543

Deferred tax assets 58,513 85,475

Prepaid expenses 42,784 42,521

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Total current assets 1,966,016 2,047,761

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Long-term investments 2,271,810 1,573,795

Other noncurrent assets 55,938 57,786

Property, plant and equipment

Land 173,595 162,642

Buildings and improvements 1,104,917 1,101,419

Furniture, fixtures and equipment 3,521,085 3,309,086

Leasehold improvements 996,315